China to Invest $121.5 Billion on 10 More Mega Nuclear Reactors

China’s $736-billion push to harness nuclear, wind, solar and biomass energy hinges on making the cleaner fuels competitive with cheap and CO2-intensive coal without derailing surging industrial growth.

China-Wind-TurbineWorld’s most populous country China plans to build 10 more mega nuclear reactors, in addition to 25 currently being built, at an investment of $121.5 billion to boost atomic power generation to meet its energy requirements.

The world’s second biggest economy expects to raise its 2020 nuclear power generation target by 5 percent to 86 GW with an annual investment of $10.6 billion, state-run newspaper China Daily reported.

China will build 10 additional nuclear power plants to reach the required capacity during the 12th Five-Year Plan, Zhang Guobao, former director of National Energy Administration was quoted as saying.

China National Nuclear Corp will invest $121.5 billion in nuclear projects by 2020 although China aims to get 15 percent of its power from renewable sources by 2020.

The world’s most populous country has 12 nuclear reactors working at present generating 10.15 GW of power, accounting for about 2.2 percent of the total power production that largely relies on coal and hydel projects.

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Source: International Business Times
Photo: Reuters