The national Standing Committee approved three nuclear power projects, and the large-scale development of nuclear power welcomes the "spring" again
On April 20, 2022, Li Keqiang presided over the executive meeting of the State Council, which pointed out that nuclear power should be developed in an orderly manner on the premise of strict supervision and ensuring absolute safety. After years of preparation and comprehensive evaluation and review, three new nuclear power unit projects in Sanmen, Zhejiang, Haiyang, Shandong and Lufeng, Guangdong have been approved. The three projects approved this time are units 3 and 4 of Sanmen Nuclear Power Phase II; Haiyang nuclear power phase II units 3 and 4; Lufeng nuclear power unit 5 and 6. Since the review of nuclear power projects was restarted in 2019, China has approved 11 nuclear power projects, with a total of 21 nuclear power units. The industrial recovery momentum is obvious, and the large-scale development of nuclear power welcomes the "spring" again. We believe that the nuclear power operators China National Nuclear Power Co.Ltd(601985) , Cgn Power Co.Ltd(003816) and Harbin Electric Corporation Jiamusi Electric Machine Co.Ltd(000922) , Jiangsu Shentong Valve Co.Ltd(002438) , Lanshi heavy industry, China Nuclear Engineering & Construction Corporation Limited(601611) are expected to benefit.
Under the background of "double carbon", nuclear power has broad development space, and the annual investment is expected to be 120160 billion
According to the report "development and Prospect of China's nuclear energy (2021)" issued by China Nuclear Energy Industry Association, under the background of carbon peak and carbon neutralization, nuclear energy, as a clean energy with near zero emission, will have broad development space. Under this development trend, China's independent third-generation nuclear power is expected to achieve batch development according to the approval rhythm of 6-8 units per year; It is estimated that by 2025, China National Nuclear Power Co.Ltd(601985) will have about 70 million kilowatts of installed capacity and 120 million kilowatts by 2030. Nuclear power generation accounts for about 8% of the national power generation. According to the announcement of China National Nuclear Power Co.Ltd(601985) , units 1 and 2 of Sanmen Nuclear Power Phase I adopt AP1000 third generation nuclear power technology, and the investment of phase I project is about 40.8 billion; In addition, according to Cgn Power Co.Ltd(003816) announcement, the total investment of Fuqing nuclear power units 5 and 6 adopting "hualong-1" third-generation nuclear power technology is about 38.5 billion. It can be seen that at present, the investment of each third-generation nuclear power unit is about 20 billion yuan. The six third-generation nuclear power units approved this time will directly bring about 120 billion investment; If the development rate of 6-8 sets per year is followed in the future, it will bring 120160 billion yuan of direct investment.
Domestic third-generation nuclear power technology has been relatively mature, and the development of nuclear power technology will improve China's energy security
The cap1000 nuclear power technology used in Sanmen Nuclear Power Phase II and Haiyang nuclear power phase II of the approved project is developed on the basis of Westinghouse AP1000 third-generation nuclear power technology. The approval and construction of domestic cap1000 follow-up nuclear power project will help promote the orderly development of China National Nuclear Power Co.Ltd(601985) nuclear power. The "Hualong 1" third-generation nuclear power technology to be adopted by Lufeng nuclear power units 5 and 6 has been verified in Fuqing nuclear power units 5 and 6, marking that China has ranked among the world's top in the field of third-generation nuclear power technology, and the development of domestic third-generation nuclear power technology has been relatively mature. In addition, the competition of nuclear energy technological innovation among the world's nuclear powers is accelerating in an all-round way: in April 2020, the U.S. Department of energy issued the report "reshaping the competitive advantage of U.S. nuclear energy: ensuring U.S. national security strategy", which stressed the need to use technological innovation and sufficient R & D investment to consolidate and technological progress and strengthen the global leadership of the United States in the next generation of nuclear energy technology; In November 2020, the Russian government allocated nearly US $890 million for the construction of nuclear research facilities based on the fourth generation multipurpose fast neutron reactor; The European Union, Britain, Japan, South Korea and other countries and regions are also developing advanced nuclear energy technology. Therefore, the development of nuclear energy technology is conducive to China to seize the strategic commanding height of nuclear energy scientific and technological innovation and improve China's energy security.
Risk tips: the promotion of nuclear power projects is not as expected, the risk of nuclear power safety accidents and the risk of changes in nuclear power policies.
