Skip to main content

China Nuclear Update

A joint energy conference between China and the European Union opened in Shanghai on Monday, and earlier today, Shen Wenquan, deputy chief of the science and technology committee of China National Nuclear Power Corp, outlined his country's long-term plans for nuclear energy:
"Nuclear power development is a must for China, especially in coastal areas," Shen said.

"In the hinterland, Sichuan has also proposed a project and we have rendered our full support to that," he added. "I think there will be a necessary transition of plants from the coasts to the inland areas of China."

Possible projects have been announced for Fujian, in the southeast, and Shandong, to the north of Shanghai. In the northeastern province of Liaoning, planners expect to build up to six nuclear generators, Shen said.

Work on an extension of the Qinshan nuclear power plant, near Shanghai, is due to begin next month, while construction of a new project at its Ling'ao nuclear plant, in southern China's Guangdong province, is scheduled to start by the end of this year, he said.

(snip)

By 2020, China hopes to build a prototype fast-breeder reactor _ a technology that produces plutonium that can be then used as fuel, reducing radioactive waste and alleviating dependence on imports of uranium.

Ultimately, though, China is placing its hopes in nuclear fusion, said Shen Rugang, vice president of China Guangdong Nuclear Power Co.

"Fusion will be the final way out for the future," Shen said... "My dream is to witness within my lifetime a light bulb powered by fusion electricity," Li said.
For some of our previous posts on China, click here and here.

UPDATE: The Brothers Judd have some ideas on what Europe is really up to when it comes to energy policy.

Technorati tags: , , , , , , , ,

Comments

Popular posts from this blog

Fluor Invests in NuScale

You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...

Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...