China has now taken a daring decision to augment its international leadership in nuclear energy. It has paved the way for the construction of 10 new nuclear reactors. This long-term, ambitious project is estimated to cost about 200 billion yuan ($27.7 billion). It seeks to exponentially increase China’s nuclear power generation capacity.
The new reactors will be carefully sited throughout densely populated, coastal communities. This decision underscores the country’s commitment to leveraging the benefits of nuclear energy and continuing to reduce seismic risks while increasing the operational efficiency of our fleet. According to The Economist, China plans to be the world’s largest nuclear power generator by 2030. These developments make an important opening for that broader strategy.
China’s nuclear energy sector has grown quickly in recent years. Within a decade, it’s on course to overtake the United States in total nuclear power generation capacity. Today, China is the world’s third largest producer of nuclear energy, behind the U.S. and France. Through this most recent effort, the nation hopes to quadruple its energy production. Yet at the same time, it’s trying to end its dependence on fossil fuels to fulfill its environmental commitments.
The decision to construct new reactors comes amid increasing domestic energy demands and a growing emphasis on sustainable energy sources. Additionally, the Chinese government is aware that it has to become less dependent on coal. To that end, it has listed nuclear power as an essential component of its strategy to improve energy security and support environmental sustainability.
Industry experts predict that once these reactors are operational, they will play a vital role in stabilizing electricity supply in the region and supporting economic growth. These facilities alone will be responsible for tens of thousands of jobs. They’ll leapfrog technological innovation across the nuclear enterprise.