Chinese Nuclear Industry to Open to Foreign Investors

As the country prepares for extensive nuclear expansion, China is to allow private domestic companies and foreign firms to invest in its power plants, state media has reported.

The controlling stake in all plants will still be held by the government.

According to the nation’s long-term development plan for the nuclear power, China could build as many as three new nuclear power plants annually, bringing total installed capacity up to 40 gigawatts by 2020.

Only 1.9% of China’s total energy needs was produced by nuclear power by the end of last year, but it is hoped that this figure will have increased to 4% by 2020.

In March, China signed a framework agreement with US power plant maker Westinghouse for four nuclear power plants, AFP reported.