China to invest $121B in nuclear power stations

China will give the go-ahead to ten nuclear power projects during its 12th Five-Year Plan, ending 2015.

China National Nuclear Corp plans to invest US$121 billion in nuclear projects by 2020, according to the China Daily.

CNNC's total investment in nuclear power plants is expected to reach US$75.9 billion by 2015, resulting in 40GW of nuclear energy available nationwide.

China plans to raise its 2020 target for the nuclear power industry to 86GW, equal to 5 per cent of its power generation.

Currently, nuclear stations account for only 2 per cent of total power generation in China.

By 2020, China aims to get 15 per cent of its power from renewable sources, out of which nuclear power will account for 5 per cent of power generation.

The localisation rate for nuclear power equipment installed in China stands at 50%, which means half of the country's nuclear equipment is provided by foreign manufacturers.