China Expects Nuclear Power Market to Reach $44 Billion in 2020

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Researched by Industrial Info Resources China (Beijing, China)--China is planning to build 18 additional nuclear power units during the 13th Five-Year Plan (2016-2020), according to Ye Qizhen of the China Academy of Engineering.

China currently has 17 nuclear power units with a total capacity of 15 gigawatts (GW) in operation and 24 nuclear power units with a total installed capacity of 26-GW under construction, all of which are expected to begin operations around 2015. To achieve the nation's long-term objective for nuclear power development, which is to have 60 GW of nuclear power by 2020, the State Council has arranged to build another 18 units during the 13th Five-Year Plan.

Five nuclear power units with an installed capacity of 4.22 GW have kicked off since the Chinese government resumed the construction of nuclear power in October 2012. The increase in the admissions threshold caused third-generation nuclear power technology to become standard. All of the new projects are based on the third-generation technology, including AP1000 imported from Westinghouse, EPR imported from France and CAP1400, which is an improved technology based on AP1000.

The four AP1000-based units, which are located in Sanmen and Haiyang, are expected to begin operations by the end of 2014; the first unit of EPR-based Taishan Nuclear Power Station is expected to begin operations in the first half of 2014; and the CAP1400-based Shidaowan Demonstration Project is currently in the purchasing stage, and is expected to kick off shortly and begin operations in 2018.

Several projects--including units 5 and 6 in Fuqing, units 3 and 4 in Haiyang, units 3 and 4 in Sanmen, units 1 and 2 in Xudabao and units 1 and 2 in Lufeng--are expected to kick off in the next two years. Most of these will be equipped with AP1000 technology. Based on the current comprehensive cost of $2.45 billion for a 1-gigawatt nuclear power unit, it is expected that the market value of the new nuclear power generation will reach more than $44 billion in 2020.

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