Nuclear power related shares soared across the board on Tuesday in Hong Kong and China after Beijing announced plans to invest 81.2 billion yuan (US$12 billion) in four new reactors for the first time since 2016.
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The companies will adopt China’s domestically developed nuclear reactor design, namely the Hualong One third-generation reactors. It has been developed by CNNP and CGN based on the ACPR1000 and ACP1000 designs, derived from the French technology.
After the Fukishima accident in Japan, China halted construction of new reactors. They then restarted construction on ones already being built.
Many people took this to mean China was abandoning nuclear power. However, it was really a case of China taking the time to decide on the right design so that they could then move forward with their fleet build out.
China is literally choking on particulate matter and pollution from its coal fired power plants. Thye have no choice but to go nuclear. This is the case in many other countries in Asia also.
The demand growth for uranium is positive due to newer larger nuclear power plants. This is one of the reasons I am so bullish on nuclear power and uranium.
