Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

China's fourth Westinghouse-designed nuclear reactor begins operations

Published 2019-01-10, 09:15 p/m
Updated 2019-01-10, 09:20 p/m
© Reuters.  China's fourth Westinghouse-designed nuclear reactor begins operations

© Reuters. China's fourth Westinghouse-designed nuclear reactor begins operations

SHANGHAI, Jan 11 (Reuters) - China's fourth Westinghouse-designed AP1000 reactor went into full operation after a trial run this week, the operator said, marking the completion of the first phase of the project after years of delays.

China signed a deal with the U.S. firm in 2007 to build four reactors, hoping to create a platform for Beijing's ambitious nuclear power expansion plans, but the roll-out of the unproven "third-generation" technology has been beset by safety concerns and design problems.

The second unit of the Haiyang nuclear power project on the eastern coast of China's Shandong province is now ready to go into full commercial operation after 168 hours of full-load operations, China's State Power Investment Corp said in statement on Thursday.

China put the world's first AP1000 into operation at Sanmen in Zhejiang province last September, four years later than originally scheduled. Two more went into operation at Sanmen and Haiyang later in the year.

The AP1000 is designed by U.S.-based Westinghouse, which was acquired by Brookfield Business Partners BBU_u.TO from Japan's Toshiba 6502.T last August following bankruptcy restructuring.

The completion of the project brings China's total nuclear capacity up to 45 gigawatts, with 46 reactor units in operation throughout the country. Nuclear makes up about 2.5 percent of the country's generation capacity.

China has scaled back the pace of new reactor approvals and no new conventional project has been given the go-ahead in more than three years. It is now expected to fall short of its 2020 target to have 58 gigawatts of working capacity and another 30 gigawatts under construction.

At the government's annual energy meeting in December, officials made no commitments to approving and building any new projects in 2019, saying only that projects now under construction would be "pushed forward in an orderly manner".

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.