Two state-owned firms teamed up to design the advanced indigenous Hualong One reactor with plans to sell overseas. On Tuesday, one of them, China General Nuclear Power Group, hosted dozens of business executives from Kenya, Russia, Indonesia and elsewhere, as well as diplomats and journalists, at its Daya Bay nuclear-power station to promote the Hualong One for export.
The move marks a turnaround for China and the nuclear-power industry. For three decades, China served as a big market for nuclear giants including U.S.-based, Japanese-owned Westinghouse Electric Co. and France’s Areva SA. More than 30 reactors have been built across China since the 1990s with reliance on foreign design and technology.
China’s push into nuclear power comes as many nations have been re-examining the risks of nuclear energy and its costs compared with natural gas and other fuels. Two dozen reactors are under construction across China today, representing more than one-third of all reactors being built globally, according to the International Atomic Energy Agency.
Regulatory approvals are among the challenges China Inc. faces as it seeks to sell homegrown reactors abroad. CGN executives said obtaining needed regulatory permits in the U.K. and other countries for the Hualong One would still take several years, a process that would need to conclude before construction gets under way.
Source: The Wall Street Journal