China to build 10 more mega nuclear reactors
China will construct 10 more mega nuclear reactors at a whopping investment of $121.5 billion, in addition to 25 currently being built, to step up its atomic power generation to meet its rising energy demands. China is expected to raise its 2020 target for the nuclear power industry to 86 GW or five per cent of its power generation with an annual investment of 70 billion Yuan ($10.6 billion).
China will take these projects on during the 12th Five Year Plan (2011-2015). The country aims to get 15 per cent of its power from renewable sources by 2020.
China National Nuclear Corporation (CNNC), plans to invest 800 billion Yuan ($121.5 billion) in nuclear projects by 2020. The investments have created a huge market for N-equipment, the value of which is estimated at 500 billion yuan. That equipment forms the largest part of investment in N-power stations, accounting for 50-60 per cent of the total. China is planning a massive push into N-power in an effort to wean itself off coal, which was seen as a major obstacle in meeting emission reduction goals.
The country now has 12 working reactors with 10.15 GW, which roughly accounts to about 2.2 per cent of the total power production. It also has 25 nuclear power plants were under construction.