Nuclear power-related shares rose on Wednesday after the industry-chain alliance of China’s advanced nuclear power technology brand named “Guohe No 1” was officially established in Shanghai on Monday.
Experts noted that the alliance will improve the safety and integrity of the domestic nuclear power industry chain, which will contribute to the country’s dual carbon target while enhancing the global influence of China’s nuclear power industry.
Buoyed by the news, nuclear power related shares witnessed a sharp rise at Wednesday’s opening. As of press time, shares of the sector record an increase of 0.71 percent, compared with an across the board decline of 0.21 percent on the Shanghai Composite Index.
Shares of nuclear power companies including Harbin Air Conditioning Company and Jiangsu Seagull Cooling Tower Company all rose by their daily limit.
The alliance said that with a design life of 60 years, the probability of a serious accident of Guohe No.1 nuclear power unit is 100 times lower than that of the second-generation nuclear power plants. Moreover, the annual power generation capacity of a single unit can meet the electricity demand of more than 22 million residents, and can reduce greenhouse gas emissions such as carbon dioxide by more than 9 million tons per year.
By 2025, the alliance is expected to build the third generation of nuclear power industry chain with “the most advanced and safest technology and fully independent and controllable equipment.”
Nuclear power is the fourth largest source of power generation in China, after thermal power, hydropower and wind power. As the country strives to set up a new power system, nuclear power has become a vital part of China’s base-load energy with its higher energy efficiency, lower pollution and stable power generation.
According to a report released by the China Nuclear Energy Association, by 2025, China’s installed nuclear power capacity will reach 70 million kilowatts in operation and 30 million kilowatts under construction, with a combined capacity of 200 million kilowatts in operation and under installation by 2035. The total market size is expected to grow from 164.8 billion yuan to 270 billion yuan ($42.78 billion) between 2022 and 2025.
Aerial photo taken on Aug. 31, 2020 shows a panoramic view of Fuqing project in the city of Fuqing, southeast China’s Fujian Province. Photo: XinHUA/Guo Donghai
