The new State Nuclear Power Technology Co, inaugurated
yesterday, will help China's strategy of developing nuclear power
technology.
It is also a sign that the country is building a market place
with multiple players to better meet its soaring energy demands in
the coming decades.
China has tried to build nuclear power projects since the 1970s.
But since nuclear power has not been needed for China's energy
supply until recently, Chinese engineers have not concentrated on
developing core technology and equipment.
As the Chinese economy soars, its demand for power has increased
dramatically, moving nuclear power to the top of the energy
agenda.
China's ambitious plans call for 40,000 megawatts of nuclear
power capacity by 2020.
China currently has only 9,000 megawatts of installed nuclear
power capacity. To meet the 2020 target, international cooperation
is indispensable.
The new State company will cooperate with US-based Westinghouse
Electric to build four pressurized water reactors. Hopefully it
will master the technology involved in the cooperation, part of the
agreement.
More such international cooperation would help Chinese companies
tap their capabilities in developing their own core technology for
utilizing clean and efficient nuclear energy.
Introduction of technology aside, the new State company adds an
additional player to the largely monopolized energy market.
This will be crucial for China to meet its 2020 nuclear power
target.
The 40,000 megawatt goal means the addition of at least two
1,000-megawatt nuclear generators each year.
It is a demanding task that may go beyond the capacity of the
China National Nuclear Co and China Guangdong Nuclear Power Holding
Co, the conglomerates that dominate China's nuclear power
construction and operation.
Although China Power Investment Co and Huaneng Group have been
allowed into the nuclear power construction and research field,
more market players will add vitality to the sector.
(China Daily May 23, 2007)