nuclear-news

China organising itself to market nuclear reactors to other countries

China nuclear power firms to merge in bid to boost global clout By Pete Sweeney and Charlie Zhu Feb 4 (Reuters) – China Power Investment Corp is merging with the State Nuclear Power Technology Corp, as Beijing drives consolidation in its rapidly expanding nuclear power sector with the aim of eventually exporting reactors.

The Chinese power producer currently controls about a tenth of China’s nuclear power market, while the State Nuclear Power Technology Corp was formed in 2007 to handle nuclear technology transferred from U.S.-based Westinghouse Electric Co.

A merger between the two would create a firm with total assets of more than 600 billionyuan ($96 billion), industry experts estimate.

“The merger will help them expand in China, and the overseas market in the long run,” said Francois Morin, Beijing-based China director of World Nuclear Association……..

China, which now primarily provides financing and construction services to nuclear power projects overseas, is expected by some experts to start exporting reactors after 2020 and become a major exporter by 2030 when it has fully digested foreign technology and developed its domestic industry.

The global nuclear market is currently dominated by firms such as France’s Areva, Russia’s Rosatom State Nuclear Energy Corp and Japan’s Toshiba Corp, which controls Westinghouse………Westinghouse Electric Co has already handed over most of the intellectual property for its AP1000 reactor design to the State Nuclear Power Technology Corp……..http://www.reuters.com/article/2015/02/04/china-nuclear-ma-idUSL4N0VE05Q20150204

February 6, 2015 - Posted by Christina Macpherson | China, marketing