April 30 (Bloomberg) -- China National Nuclear Corp. set up a venture with local partners in Fujian province to build fourth-generation reactors as the world’s biggest polluting- country turned to clean energy to drive its economy.
China National Nuclear holds a controlling stake in the venture formed on April 28 with Fujian Investment and Development Corp. and the government of Sanming city, where the atomic plant will be located, the Beijing-based company said on its website.
The world’s fastest-growing major economy is developing nuclear energy to help cut reliance on more polluting coal and oil and to meet surging electricity demand. China is emerging as a potential exporter of atomic technology, increasing competition for companies including Areva SA.
China National Nuclear and its partners aim to start building the plant “soon,” according to the statement.
The fourth-generation nuclear technology developed under the China Experimental Fast Reactor program has “noticeable advantages” in increasing the efficiency of uranium use and reducing nuclear waste, China National Nuclear Vice General Manager Yu Jianfeng said in the statement.
The government is urging domestic nuclear companies to partner with foreign firms to build reactors abroad, China National Nuclear President Sun Qin said in an interview in March.
Electricite de France SA, Europe’s biggest power producer, signed agreements with China National Nuclear and China Guangdong Nuclear Power Group yesterday to expand global cooperation.
--Wang Ying. Editors: Ryan Woo, Ang Bee Lin.
Source: http://www.bloomberg.com/apps/news?sid=aSB3Tz5qsxoI&pid=20601087
China National Nuclear holds a controlling stake in the venture formed on April 28 with Fujian Investment and Development Corp. and the government of Sanming city, where the atomic plant will be located, the Beijing-based company said on its website.
The world’s fastest-growing major economy is developing nuclear energy to help cut reliance on more polluting coal and oil and to meet surging electricity demand. China is emerging as a potential exporter of atomic technology, increasing competition for companies including Areva SA.
China National Nuclear and its partners aim to start building the plant “soon,” according to the statement.
The fourth-generation nuclear technology developed under the China Experimental Fast Reactor program has “noticeable advantages” in increasing the efficiency of uranium use and reducing nuclear waste, China National Nuclear Vice General Manager Yu Jianfeng said in the statement.
The government is urging domestic nuclear companies to partner with foreign firms to build reactors abroad, China National Nuclear President Sun Qin said in an interview in March.
Electricite de France SA, Europe’s biggest power producer, signed agreements with China National Nuclear and China Guangdong Nuclear Power Group yesterday to expand global cooperation.
--Wang Ying. Editors: Ryan Woo, Ang Bee Lin.
Source: http://www.bloomberg.com/apps/news?sid=aSB3Tz5qsxoI&pid=20601087
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