China struck a deal to build a nuclear reactor in Argentina and the agreement could result in more than 30 billion yuan (about $4.7 billion) in equipment exports, Chinese official media said.
CGN to build floating reactor China General Nuclear (CGN) expects to complete construction of a demonstration small modular offshore multi-purpose reactor by 2020, the company announced yesterday.
CGN said development of its ACPR50S reactor design had recently been approved by China's National Development and Reform Commission as part of the 13th Five-Year Plan for innovative energy technologies.
The company said it is currently carrying out preliminary design work for a demonstration ACPR50S project. Construction of the first floating reactor is expected to start next year, it said, with electricity generation to begin in 2020.
The 200 MWt (60 MWe) reactor has been developed for the supply of electricity, heat and desalination and could be used on islands or in coastal areas, or for offshore oil and gas exploration, according to CGN.
The Chinese company said it is also working on the ACPR100 small reactor for use on land. This reactor will have an output of some 450 MWt (140 MWe) and would be suitable for providing power to large-scale industrial parks or to remote mountainous areas.
CGN said the development of small-scale offshore and onshore nuclear power reactors will complement its large-scale plants and provide more diverse energy options.
Last October, Lloyd's Register of the UK announced it had signed a framework agreement with the Nuclear Power Institute of China - a subsidiary of China National Nuclear Corporation (CNNC) - to support the design and development of a floating nuclear power plant utilizing a small modular reactor. That plant would be based on a marine version of CNNC's ACP100 SMR design, known as the ACP100S. This 100 MWe design with passive safety features has been under development since 2010 and its preliminary design was completed in 2014.
The only floating nuclear power plant today is the Akademik Lomonosov, under construction in Russia, where two 35 MWe reactors similar to those used to propel ships are being mounted on a barge to be moored at a harbour. The Baltiysky Zavod in St Petersburg is on schedule to deliver the first floating nuclear power plant to its customer, Russian nuclear power plant operator Rosenergoatom, in September 2016. It could start operating in Chukotka as early as in 2017.
Floating plants offer various advantages: construction in a factory or shipyard should bring efficiencies; siting is simplified; environmental impact is extremely low; and decommissioning can take place at a specialised facility. However, the offshore environment brings important considerations, such as access for personnel and equipment and the need to ensure radioactive materials never enter the sea.
China wants to shift from customer to competitor in the global nuclear industry as it seeks to roll out its first advanced reactor for export, a move that adds new competition for already struggling global firms.
China General Nuclear Power Group, hosted dozens of business executives from Kenya, Russia, Indonesia and elsewhere, at its Daya Bay nuclear-power station to promote the Hualong One for export.
The Chinese government has emerged as a potential buyer of a multibillion-pound stake in Britain’s nuclear power plants.
The talks will reignite debate about China’s involvement in the UK nuclear power industry. Two years ago, the government paused approval for the £18bn Hinkley Point C project because of security concerns over China’s stake.
China General Nuclear Power Group (CGN), a state-run corporation, is said to be interested in buying a major stake in eight power stations, including Sizewell in Suffolk and Dungeness in Kent.
The power stations are operated by EDF Energy, a subsidiary of the French company EDF, but earlier this year, the British Gas owner, Centrica, put its 20% stake up for sale. The Sunday Times suggested CGN hoped to acquire a 49% stake, which indicates EDF could be looking to offload some of its shareholding.
The proposed deal would be a headache for Theresa May, who is concerned about giving China greater access to critical infrastructure projects and has initiated a new national security test for foreign takeovers.
CGN is becoming an increasingly important player in Britain’s atomic plans, and is working with EDF Energy on plans to develop a new nuclear power station at Bradwell-on-Sea in Essex.
The sale could attract interest from pension and insurance funds, but analysts say the pool of bidders is small because the reactors have a limited shelf live.
Paul Dorfman, a senior researcher at University College London’s Energy Institute, said Britain was an outlier in its openness to Chinese investment.
“It’s entirely credible [that China would be allowed to buy the stake] in the context of what the British government is doing,” he said. “There is no other OECD country that would allow China to own any of its critical infrastructure, let alone its nuclear infrastructure.”
Dorfman said EDF, with €33bn (£29bn) of debt, was eager to raise funds from asset sales. “EDF is in financial difficulties and has been for some time. It’s looking to sell off whatever it can sell off. It’s worried about debt, its credit rating … plus its waste and decommissioning liabilities,” he said.
The eight nuclear power stations, which used to be grouped under British Energy, generate 8.9 gigawatts of electricity and supply about 20% of Britain’s electricity needs. They were bought by EDF for £12.5bn in 2008. The following year, Centrica took a 20% stake, which it values at £1.7bn.
Market Data 
Markets 
AI
