China approves construction of 11 nuclear reactors worth CZK 700 billion

The Chinese government has approved the construction of 11 new nuclear reactors, requiring investment of at least 220 billion yuan (roughly CZK 700 billion). The German newspaper Handelsblatt reported the news, citing Chinese media. China is seeking to curb carbon dioxide emissions with the help of nuclear power plants and could become the world’s leading producer of nuclear energy in a few years.

The Chinese government approved the construction of 11 nuclear reactors in the provinces of Jiangsu, Shandong, Guangdong and Zhejiang, and the Guangxi autonomous region, on Monday. Construction is expected to take about five years. BloombergNEF recently forecast that China will overtake France and the United States in nuclear power plant capacity by 2030, making it the market leader.

According to the China Nuclear Energy Association (CNEA), 56 nuclear reactors are currently in operation in China, supplying around five percent of the country’s total electricity demand. China’s investment bank CITIC Securities expects Beijing to approve ten new nuclear reactors a year over the next three to five years, Handelsblatt reports.

The Czech Republic is currently planning to build two units at the Dukovany nuclear power plant, with the first expected to be completed in 2036. South Korean company KHNP will be the supplier; the Czech government selected it over France’s EDF in the tender. The Czech Republic currently operates a total of six nuclear reactors: four at Dukovany and two at Temelín.