China launches JV to export Hualong reactors

CNNC International

17/03/2016 10:32

BEIJING, March 17 (Reuters) - China's two state-owned 
nuclear project developers have set up a joint venture (JV) 
aimed at exporting their homegrown third-generation "Hualong 1" 
reactor technology, one of the firms announced on Thursday. 
    China has been pushing its big nuclear firms to boost their 
presence overseas in a bid to become one of the world's dominant 
nuclear energy powers. In line with this, it has been promoting 
its Hualong 1 reactor as a rival to other third-generation 
designs, including Westinghouse's AP1000 and the European 
Pressurised Reactor built by France's Areva  AREVA.PA . 
    The JV Hualong International Nuclear Technology Corp, which 
should help widen Hualong 1's regional footprint, was formally 
established at a ceremony on Thursday following an agreement 
between China General Nuclear Power Corp (CGN Power) and China 
National Nuclear Corp (CNNC) late last year. 
    "This ... will inject strong momentum into the cohesive 
development and the opening up of the market for the Hualong 1, 
promote large-scale construction domestically and land projects 
in more countries and regions," CGN Power said in a statement. 
    Hualong 1 reactors are already being constructed at home and 
also in Pakistan. China has also signed a reactor deal with 
Argentina and is seeking regulatory approval to build another 
Hualong 1 in Britain in conjunction with France's EDF  EDF.PA . 
    The head of CNNC, Sun Qin, told Reuters last week that the 
first domestic unit in southeast China's Fujian province was 
scheduled to be completed by around June 2020.  urn:newsml:reuters.com:*:nL4N16H1Q8 
    China aims to raise its total nuclear installed capacity to 
58 gigawatts (GW) by the end of 2020, and CGN Power has said 
that the figure could rise to 120-150 GW by 2030.  urn:newsml:reuters.com:*:nL3N16M3QX 
 
 (Reporting by David Stanway; Editing by Himani Sarkar) 
 ((david.stanway@thomsonreuters.com; +86 10 6627 1289; Reuters 
Messaging: david.stanway.thomsonreuters.com@reuters.net)) 
 
Keywords: CHINA NUCLEAR/HUALONG