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Business / Companies

Chinese nuclear companies join hands to promote Hualong One

By Lyu Chang (China Daily) Updated: 2015-12-31 07:21

Chinese nuclear companies join hands to promote Hualong One

The construction site of the first Hualong One nuclear power unit, coded as the No 5 nuclear power unit in Fuqing, Fujian province on December 9, 2015. [Photo/chinadaily.com.cn]

New venture to promote indigenous nuclear technology in overseas markets

Nuclear technology exports from China are poised for a giant leap with two industry majors deciding to form a joint venture to promote the Hualong One, the indigenously developed nuclear technology, in domestic and overseas markets.

The Hualong One or HPR 1000 is a third-generation nuclear reactor design that is one of the most advanced in the world in terms of innovation in safety technology and standards.

The joint venture, set up by China National Nuclear Corp and China General Nuclear Power Group, will manage and operate the technology, branding as well as the patent of Hualong One both at home and abroad, according to a joint statement from the companies.

"The new company will promote Hualong One so that it can gain more orders in overseas countries," it said.

CNNC and CGN will equal shares in the joint venture, Hualong International Nuclear Technology Co Ltd, with total registered capital of 500 million yuan ($77 million).

The two companies jointly started research and development of the home-grown Hualong One based on their technologies, and the general plan passed inspection by a national expert panel in August 2014.

This year, construction on the pilot projects using Hualong One technology started in Fuqing, East China's Fujian province and Fangchenggang nuclear power project in the Guangxi Zhuang autonomous region.

"Both companies will accelerate the setting up of the joint venture and promote the construction of Hualong One nuclear power projects," the statement said.

The plan comes at a time when China, the world's largest energy consumer, embarks on a huge nuclear program at home and looks to leverage its domestic experience for export of third-generation technologies and equipment.

China has already made huge inroads in the global nuclear market. It signed a framework agreement with Argentina in November and an investment contract with the United Kingdom for the joint development of three nuclear power plants, including the Bradwell B project, where Hualong One is likely to be used.

The National Energy Administration on Tuesday said that China, which is the world's largest market in term of nuclear reactors under construction, plans to give more approvals for nuclear reactors along the coastal region next year.

The country will also start to build a pilot project for CAP1400 nuclear technology, based on AP1000 technology developed by the United States-based Westinghouse Electric Co LLC, it said.

Capacity of the newly built nuclear reactors is about 82 megawatts, taking total installed capacity of current operational nuclear reactors to 255 mW, according to data from the NEA.

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