Shanghai, China, Aug 20 (EFE).— China has approved five new nuclear power projects, adding 11 reactors with an estimated investment of 220 billion yuan ($30.79 billion), marking a new record in the country’s atomic energy expansion.
The decision was taken at an executive meeting of the State Council, presided over by Premier Li Qiang on Monday, the state-run Xinhua news agency said.
State-controlled Chinese business news outlet Jiemian said the reactors will be constructed across the provinces of Jiangsu, Shandong, Guangdong, Zhejiang, and Guangxi.
Jiemian estimated are based on the average cost of 20 billion yuan ($2.8 billion) per reactor. Typically, China completes such projects within five years of approval.
Six of the reactors will be managed by subsidiaries of the state-owned China General Nuclear Power Group (CGN), with several expected to be third-generation Hualong One reactors.
The China National Nuclear Corporation (CNNC) will build three more reactors, while the State Power Investment Corporation (SPIC) will oversee the construction of two others. Both CNNC and SPIC are also publicly owned.
Notably, the Xuwei project in Jiangsu, operated by CNNC, will include a fourth-generation gas-cooled reactor designed to supply both heat and electricity, featuring enhanced safety measures.
According to Bloomberg, China has more nuclear reactors under construction than any other country, having approved a dozen in each of the past two years.
The nation is on track to become the world’s largest producer of nuclear energy by 2030, overtaking France and the United States. Currently, China operates 56 reactors, meeting 5 percent of its total electricity demand.
As part of its energy security and emissions reduction strategy, China is heavily investing in nuclear power alongside renewable sources like wind and solar. Beijing aims to double nuclear energy’s share of the national energy mix from 5 percent to 10 percent by 2035.