VanEck Vectors Uranium Plus Nuclear Energy ETF (NLR)

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Westinghouse expects contracts for 12 Chinese nuclear reactors

http://www.platts.com/latest-news/electric-power/newyork/westinghouse-expects-contracts-for-12-chinese-21987641


Westinghouse expects it and its suppliers will get contracts in the near future related to construction of a dozen nuclear reactors in China, company CEO Danny Roderick said Thursday.

China may build as many as 200 new nuclear units in the coming 15 years, and a 25-30% market share for Westinghouse is "realistic," Roderick said on the sidelines of a Nuclear Energy Institute event in New York.

Unlike the initial contracts under which Chinese companies are building four 1,150-MW Westinghouse AP1000 reactors at two sites -- Sanmen and Haiyang -- future agreements will not be turnkey contracts, Roderick said.

Westinghouse agreed to transfer the AP1000 technology to China as part of the deal to sell the four units, and China is seeking to export 1,400-MW versions of the AP1000.