China has approved the construction of 11 new nuclear reactors across five sites, marking a record number of permits as the government intensifies its reliance on nuclear energy to reduce carbon emissions. The State Council granted approvals for reactors at locations in Jiangsu, Shandong, Guangdong, Zhejiang, and Guangxi, according to a report by the state-run China Energy News.
The total investment for these 11 reactors is projected to exceed 220 billion yuan ($31 billion), with construction expected to take around five years, as reported by financial publication Jiemian.
China is already leading the world in nuclear reactor construction, with more reactors under development than any other country. In each of the past two years, China approved 10 new reactors, and the nation is on track to surpass both France and the United States as the world’s top atomic power generator by 2030, according to BloombergNEF.
CGN Power Co., the publicly listed arm of the state-owned China General Nuclear Power Corp., announced in a Hong Kong stock exchange filing that it received approvals for six reactors across three sites. Meanwhile, China National Nuclear Corp. (CNNC) confirmed on WeChat that it had secured the go-ahead for three reactors, and State Power
