Power Group Online Article |  | |
30 March 2006 - China will gradually reduce its dependence on imported nuclear technologies after the national government approved a new nuclear power strategy that will run until 2020.
The news came as the Industrial and Commercial Bank of China announced that it had lent Guangdong Nuclear Power Holding Company yuan60bn ($7.4bn). The nuclear company recently detailed plans to raise around yuan10bn through an initial public offering in 2007 or 2008.
To help develop a more diverse energy supply mix, the government plans to build two new nuclear power plants per year from now until 2020, each with a capacity of at least 1 GW.
Under the mid- to long-term strategy, the share of nuclear in the power generation mix will grow from its current share of 8.7 GW to 40 GW. In 2004, nuclear energy accounted for just under 2 per cent of China's total share.
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