Skip to main content

China Nuclear Update

Yesterday in Beijing:
Chinese fast reactor nuclear power plant will likely supply electricity for Chinese electricity market 30 years later, said Wang Naiyan, the academician of Chinese Academy of Sciences and director of China Institute of Atomic Energy, on June 7th in Beijing.

China will strive hard to make commercial use of its fast reactor nuclear system in around 2035 and make it the main source of nuclear power after 2050, according to the Mr. Wang's academic report delivered at the 13th China Science Institute Academic Conference.
Meanwhile, the world waits for China's decision on which foreign company will win a contract to build a new generation of nuclear reactors. But what really caught my attention in the Forbes story was this passage:
'Pebble-bed' technology is considered likely to form the core of China's next generation of nuclear plants.

It will be the first radical new reactor designed globally in decades and will put China at the forefront in nuclear energy research that offers a 'meltdown-proof' alternative to conventional nuclear power stations, reports said.
In a briefing here at NEI a couple of weeks ago, Dr. Kelvin Klemm, currently working as a consultant in South Africa on the PBMR project, had mentioned that China was very interested in the design. More confirmation that China will build PBMR's, here.

The National Development and Reform Commission also announced that construction will begin on the Hongyanhe Nuclear Power Plant in Liaoning province next year.

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...