In a move to boost its nuclear energy capacity, China’s State Council has approved the construction of 11 new nuclear reactors across five provinces, with a total estimated investment of US$31 billion.
The reactors are part of China’s broader strategy to double its nuclear energy production by 2035.
Two of CNNC’s reactors will be Hualong One models, as will six belonging to CGN. These reactors rely almost entirely on domestically produced components, reflecting China’s ongoing emphasis on technological self-sufficiency.
CNNC will also construct a high-temperature gas-cooled reactor, a fourth-generation design that enhances safety features while generating both heat and electricity. In total, CNNC has been approved for three reactors, while CGN has been approved for six. A third company, State Power Investment, has been approved for two reactors.
The approval of these projects aligns with the Asian powerhouse’s broader commitment to diversifying its energy mix. Currently nuclear power accounts for 5 percent of the country’s electricity generation. China has a long-term plan to increase this to 10 percent by 2035, alongside a massive expansion in renewable energy projects such as wind and solar.
This rapid growth in renewable energy has already begun to shift China’s energy landscape. In May, 44 percent of its electricity generation came from non-fossil fuel sources, including solar, wind, nuclear and hydropower. Coal’s share of electricity generation fell to 53 percent, a record low, down from 60 percent in the same period the previous year.
The rise in renewable energy has also led to a decline in China’s CO2 emissions. Data from the China Electricity Council and analysis by the Asia Society Policy Institute suggests its emissions from the power sector may have peaked in 2023.
As further developments in China’s renewable energy infrastructure continue, the nation’s trend toward falling emissions is expected to increase as projects reach completion.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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