China's nuclear capacity to hit 113GW by end-2028 as reactors quickly upgrade
It plans to develop the first large-scale thorium molten salt reactors.
China is expected to remain a global outperformer in nuclear power, with its capacity projected to expand from the 44.6GW as of end-2018 to 113GW or over 25% of the global capacity by end-2028, according to Fitch Solutions.
The country has been eyeing to develop new nuclear technologies, particularly in the high-temperature gas-cooled reactor (HTR-PM) and other small module reactor (SMR) designs. It plans to develop the world’s first large-scale thorium-powered molten salt reactors.
The country has also launched the construction of nuclear power plants in Shandong, Fujian and Guangdong provinces, signalling the end of a moratorium of new projects in the market. Several reactors have began operation in the last few months like Taishan 2 and Yangjiang 6.
In addition, China was also noted to reiterate its commitment to nuclear power in meeting its Paris Agreement Climate goals during the International Conference on Climate Change.
Its drive to lower coal emission, which was placed as a key priority under its 13th Five-Year Plan, is expected to drive nuclear growth to make up for the shortfall in output. Cancellations of coal projects in the pipeline is expected to continue.
However, the country is expected to fall short of meeting its targets of 58GW capacity by 2020, and 150GW by 2030, as it will require its government to approve six to eight projects a year to meet.
Fitch projected China’s nuclear capacity to hit 55GW by 2020. The country still has a total of 64GW capacity in the pipeline.
