CNNC Acquires Uranium Companies to Fuel China’s Nuclear Power Industry Growth

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Installed Nuclear Power Capacity to Reach at least 50 GW by 2020. China has massive growth plans for its nuclear power industry.

China has massive growth plans for its nuclear power industry. It currently operates 11 nuclear reactors with a total installed nuclear capacity of 8,587 MW. Nuclear power presently contributes about 3% of the total power generated in the country. The growing demand for power and its heavy reliance on conventional thermal plants which causes environmental hazards are the chief reasons for its plans to build new reactors. In 2007, the National Development and Reform Commission announced a target for China’s installed nuclear capacity to be 40 GW by 2020. Subsequently in 2008, the State Energy Bureau announced that nuclear power will need to constitute about 5% of the total power generated in the country, requiring at least 50 GW by 2020 and 160 GW by 2030. China is potentially the biggest market for nuclear equipment, having about more than 20 reactors under construction and many more in the planned and proposed stages. Such large capacity additions will need uranium and other allied services to power the new reactors.

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