Bloomberg reports – China has approved the construction of 28 more nuclear power reactors under a revised target for 2020 to meet rising demand for clean energy and accelerate development of the industry.
Each of the one-gigawatt reactors will cost as much as 14 billion yuan ($2.1 billion), Mu Zhanying, general manager of the state-run China Nuclear Engineering Group, said in an interview in Beijing today. Under the original plan announced in 2005, China was to spend 400 billion yuan to add 40 gigawatts of nuclear capacity by 2020 to help reduce reliance on more polluting coal and oil. The capacity will exceed 70 gigawatts by then under the revised plan, Wang Binghua, chairman of the State Nuclear Power Technology Corp. It would take 50 months to build one reactor, according to Mu.