According to the modern energy system planning of the 14th five year plan issued by the national development and Reform Commission and the national energy administration, the installed capacity of nuclear power operation will reach about 70 million KW by 2025.
Since the national Standing Committee announced the approval of three new nuclear power unit projects in Haiyang, Shandong Province in April, the nuclear power “national team” has raised funds frequently recently.
On May 16, Fuqing nuclear power under CNNC and Shandong Nuclear Power under State Power Investment announced a new round of fund-raising plans.
China has developed nuclear power for more than 30 years. After the Fukushima nuclear power accident in Japan in 2011, China’s approval of nuclear power was greatly tightened, and the whole nuclear power construction industry entered a trough. It was not until 2019 that the China National Nuclear Power Co.Ltd(601985) project was opened one after another, breaking the “zero approval” status for many years. Since 2019, a total of 11 new nuclear power projects have been approved.
Under the dual carbon target, nuclear power as a clean energy, its strategic significance has attracted much attention. In late March, the national development and Reform Commission and the National Energy Administration released the “14th five year plan” for modern energy system, which proposed that by 2025, the installed capacity of nuclear power operation will reach about 70 million KW.
Lin Boqiang, President of China Energy Policy Research Institute of Xiamen University, told shell finance reporters that on the premise of ensuring safety, nuclear power can be said to be the most cost-effective and stable clean energy at present. However, the characteristics of nuclear power reaction and its accidents in history also determine that we must be cautious in the development of nuclear power. In an interview with the media in mid May, Zeng Yachuan, director of the nuclear power department of the national energy administration, once again proposed to always put ensuring safety first in nuclear power work.
Lin Boqiang told shell finance reporters that although nuclear power is an ideal energy, its development space is relatively limited considering safety and site selection. He believes that in the future, the number of China National Nuclear Power Co.Ltd(601985) units is expected to reach 140, and the power generation of nuclear power units will account for about 4% to 5% of the total power generation in China.
China has approved three nuclear power “national teams” to raise funds frequently for new nuclear power projects for four consecutive years
On April 20, the national standing committee pointed out that the three new nuclear power unit projects of Zhejiang Sanmen, Shandong Haiyang and Guangdong Lufeng, which have been included in the national plan after years of preparation and comprehensive evaluation and review, were approved. This approval is the fourth consecutive year that China has approved new nuclear power projects since “restarting” nuclear power in 2019.
Shell finance reporter noted that a number of nuclear power “national teams” recently announced fund-raising plans.
On May 16, Fujian Fuqing nuclear power Co., Ltd. (“Fuqing nuclear power”) announced that it plans to issue the first phase of ultra short-term financing bonds in 2022, raising 400 million yuan, which will be used to repay the stock interest paying debt.
Fuqing nuclear power is controlled by China National Nuclear Power Co.Ltd(601985) ( China National Nuclear Power Co.Ltd(601985) . SH), a listed company under the central enterprise China Nuclear Industry Corporation (“CNNC”), and is one of the main subsidiaries of the latter in nuclear power operation.
Fuqing nuclear power now operates six nuclear power units, of which units 1 to 4 were put into operation from 2014 to 2017. Units 5 and 6, as the world’s first reactor demonstration project of the third generation nuclear power “Hualong 1”, were put into commercial operation in 2021 and 2022 respectively, with a total installed capacity of 6.678 million KW.
China National Nuclear Power Co.Ltd(601985) the former wholly-owned subsidiary China Nuclear Huineng Co., Ltd. recently introduced seven war investors through public listing. According to the announcement of China National Nuclear Power Co.Ltd(601985) May 13, China Life Insurance Company Limited(601628) , Sichuan Chuantou Energy Co.Ltd(600674) ( Sichuan Chuantou Energy Co.Ltd(600674) . SH), Zhejiang Zheneng Electric Power Co.Ltd(600023) ( Zhejiang Zheneng Electric Power Co.Ltd(600023) . SH) and other seven institutions hold a total of 30% equity of the latter after the capital increase and share expansion of China Nuclear Huineng China National Nuclear Power Co.Ltd(601985) said that the introduction of war investment by China nuclear energy Huineng will help optimize the capital structure of China nuclear energy Huineng and strengthen financial support.
On May 16, Shandong Nuclear Power Co., Ltd. (“Shandong Nuclear Power”) announced that it would issue the fifth phase of ultra short-term financing bonds in 2022, raising 700 million yuan, which is intended to be used to repay maturing debt financing instruments.
Shandong nuclear power is indirectly controlled by the central enterprise State Power Investment Group Co., Ltd. (“state power investment”) through China Power Investment Nuclear Power Co., Ltd. Shandong nuclear power is the main body of the development and operation of Shandong Haiyang nuclear power project. Phase I project is one of the supporting projects for the autonomy of China’s third-generation nuclear power technology. Units 3 and 4 of Haiyang phase II project under construction have been included in the medium and long-term planning of national nuclear power.
It is reported that units 1 and 2 of Haiyang phase I project have been put into commercial operation in October 2018 and January 2019 respectively. The total installed capacity of the two units is 2.5 million KW, and the on grid power will be 18.4 billion kwh in 2021.
Wind statistics show that Shandong nuclear power has issued five ultra short-term financing bonds since this year. In addition to the first phase of 300 million yuan of carbon neutralization bonds to raise funds for green projects such as energy conservation and environmental protection, pollution prevention, resource conservation and recycling, the remaining four phases of bonds totaling 3 billion yuan are used for debt repayment.
Another national nuclear power team, the central enterprise Cgn Power Co.Ltd(003816) Group Co., Ltd., whose holding Cgn Power Co.Ltd(003816) ( Cgn Power Co.Ltd(003816) . SZ) has also issued three ultra short-term financing bonds and one medium-term notes this year, raising a total of 6.1 billion yuan, which are used to repay the debts of the company’s headquarters or subsidiaries.
By the end of 2020, Cgn Power Co.Ltd(003816) operated and managed 24 nuclear power units in operation, distributed in Guangdong, Guangxi, Fujian and Liaoning, with a total installed capacity of 27142 MW, accounting for 54.42% of the total installed capacity of nuclear power in operation in China.
emphasize the positive, safe and orderly development of nuclear power. What is the potential
Under the dual carbon target, nuclear power as a clean energy, its strategic significance has attracted much attention.
The reporter of shell finance and economics noted that at the national energy work conference held at the end of 2021, “active, safe and orderly development of nuclear power” was put forward as a key task.
In late March, the national development and Reform Commission and the National Energy Administration announced the “14th five year plan” for modern energy system. The plan proposes to actively and orderly promote the construction of coastal nuclear power projects and reasonably arrange new coastal nuclear power projects on the premise of ensuring safety; By 2025, the installed capacity of nuclear power operation will reach about 70 million KW.
China has developed nuclear power for more than 30 years. Qinshan nuclear power plant, the first self-designed and built nuclear power plant, was connected to the grid in December 1991. However, after the Fukushima nuclear power accident in 2011, China’s approval of nuclear power was significantly tightened, and the whole nuclear power construction industry entered a trough. It was not until 2019 that the China National Nuclear Power Co.Ltd(601985) project was opened one after another, breaking the “zero approval” status for many years. Since 2019, a total of 11 new nuclear power projects have been approved.
According to the statistics of China Nuclear Energy Industry Association, by the end of the first quarter of 2022, China had 54 operating nuclear power units with an installed capacity of 5580574mwe In the first quarter, the cumulative power generation of China’s operating nuclear power units was 98.983 billion kwh, accounting for 4.97% of the country’s cumulative power generation.
Several nuclear power industry and analysts told shell finance reporters that nuclear power is the most cost-effective and clean energy without considering site selection, distribution and safety factors, but the safety problem of nuclear power construction is extremely prominent.
In mid May, Zeng Yachuan, director of the nuclear power department of the national energy administration, once again proposed to put ensuring safety first in nuclear power work in an interview with the media.
Lin Boqiang, President of China Energy Policy Research Institute of Xiamen University, told shell finance reporters that although nuclear power is an ideal clean energy, its development space is relatively limited considering safety and site selection.
Lin Boqiang believes that at present, there are about 70 nuclear power generators under construction in China, which can be doubled to 140 in the future. This number is the ceiling of nuclear power development. At that time, the power generation of nuclear power generators will account for about 4% to 5% of the total power generation in China.
