On May 10, China approved five nuclear power projects and 10 units, which is a comprehensive strategic layout for energy security, low-carbon transition, economic growth and technological innovation.

1.Technological independence promotes the leapfrog development of the nuclear power industry

China's third-generation nuclear power technologies "Hualong No. 1" and "Guohe No. 1" have achieved a localization rate of more than 85%, and key equipment such as main pumps and blasting valves are completely localized, and their safety has reached the highest international standards. Taking the "Hualong No. 1" as an example, its single-stack layout design adopts a double-layer containment and a combination of active/passive safety system, which can withstand the impact of large commercial aircraft and ensure safety without human intervention within 72 hours. The Fujian Xiapu Fast Reactor Demonstration Project represents a breakthrough in the fourth generation of nuclear power technology, increasing the utilization rate of uranium resources from 1% to more than 60% through sodium-cooled fast reactor technology, and realizing the recycling of nuclear waste, completely solving the problem of uranium resource shortage and nuclear waste disposal.

2.the synergistic effect of the industrial chain activates the trillion-level market

The pull effect of the nuclear power industry on the upstream and downstream is significant: the investment of a single million kilowatt unit is about 20 billion yuan, and 10 units can drive an investment of 200 billion yuan, involving more than 6,000 enterprises. For example, during the construction of the Fangchenggang project, 60,000 jobs were created for Pakistan and more than 100,000 Pakistani personnel were trained. By optimizing the drainage plan, Zhangzhou Nuclear Power has led more than 10 local enterprises to participate in equipment manufacturing and engineering construction. At the level of technology research and development, "Hualong No. 1" has accumulated more than 14,000 intellectual property achievements, and "Guohe No. 1" has driven 477 units and 26,000 technical personnel to participate in tackling key problems, promoting breakthroughs in nuclear-grade materials, precision manufacturing and other fields.

3.cost advantages and international competition reshape the global pattern

China's nuclear power technology has shown strong competitiveness in terms of cost and efficiency. The LCOE of third-generation nuclear power is about 0.35 yuan, which is lower than that of offshore wind power (0.45 yuan), and the cost is only 1/4 of the first AP1000 reactor in the United States and 1/2 of the EPR in France. With its cost-effective advantage, China's nuclear power has been exported to Pakistan (Karachi project), the United Kingdom (Hinkley Point C), and competes with Russia and France in Southeast Asia and the Middle East market. For example, the Karachi project in Pakistan generates 20 billion kilowatt hours of electricity per year and reduces carbon dioxide emissions by 5.2 million tons, becoming a benchmark for clean energy cooperation along the Belt and Road.

4.the strategic value of regional energy balance and security

The approved projects are concentrated in coastal economic belts such as Zhejiang and Guangdong, directly alleviating the power shortage in the Yangtze River Delta and the Pearl River Delta. In 2023, Guangdong's maximum electricity load will reach 180 million kilowatts, and nuclear power as a local power source can reduce the long-distance transmission loss of "west-to-east power transmission" (about 5%-8% for UHV transmission). In terms of energy security, China's dependence on foreign uranium resources is about 80%, but it has established a stable supply chain through overseas investment in the Hushan uranium mine in Namibia and the construction of the "National Uranium No. 1" natural uranium production base in China. After the fast reactor technology is promoted, the demand for uranium resources will be further reduced.(This article is from the official website of Seetao www.seetao.com. Reprinting without permission is strictly prohibited. Please indicate Seetao.com + original link when reprinting) Seetao.com Strategy Column Editor/Sun Fengjuan