Policy Highlights Opportunities in Nuclear Plants - China Will Need Parts

Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, & Industry

Date posted: 08/19/15

Lyu Chang reports that China decision to press ahead with its nuclear energy program can have a positive effect on the global market. Increasing the number of nuclear power plants here will mean more than the simple Made in China tag. The country has shown great enthusiasm for building its own brand of nuclear reactor, but is it necessary to produce all the other equipment on its own?, he said. A great deal of nuclear equipment must be purchased from abroad where the cost is lower and the quality is higher. The nuclear crisis at Japan Fukushima Daiichi plant in 2011, after it was rocked by an earthquake and hit by a massive tsunami, prompted many countries to re-examine their nuclear energy programs. Germany and Switzerland decided to phase out nuclear power plants by 2035, while others are still working on new energy strategies. But these decisions have made the Chinese involvement in the industry even more important. Nuclear-generated power plays a vital role in the energy mix here and this is to be revived globally. China is moving to build six or seven power plants a year will be crucial. So Chinese success in its nuclear program is broader than just full independency of nuclear equipment manufacturing, Morin said. It may lead globally to a wider acceptance of nuclear energy. There are more than 45 countries considering nuclear power programs, but potential markets for China might be limited as competition will be fierce. China may have opportunities to build plants in countries such as Romania, Turkey, South Africa, Argentina and Poland, he said. But here will be cultural barriers. The global nuclear energy market for power plants that are either under construction or planned by 2030 is expected to reach $1.2 trillion, data released by the World Nuclear Association has showed. China is the largest nuclear market in the world in terms of the number of power plants under construction. It has 23 in operation and 20 more under construction.