China leads the world in nuclear energy for the first time
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China has become the top nation in nuclear energy capacity, currently producing over 100 million kilowatts, with over 28 power plants under construction.
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The Taishan Nuclear Power Plant in Taishan, in southern China's Guangdong Province is seen, on Thursday, June 17, 2021. (AP)
China has now become the world leader in nuclear energy, according to a Sunday report from its Nuclear Energy Administration.
For the first time, China has become the global leader in total nuclear energy capacity, with the China Nuclear Energy Administration reporting that the country currently has 102 nuclear power units either in operation, under construction, or approved, amounting to a total capacity of 113 million kilowatts.
The report further stated that China currently has 28 nuclear power units under construction with a combined capacity of 33.65 million kilowatts, maintaining its position as the global leader in nuclear construction capacity for 18 consecutive years.
China also currently operates 58 commercial nuclear power units with a total capacity of 60.96 million kilowatts, while the country's nuclear power generation continues to expand.
The report highlighted that China's operational nuclear power plants generated a total of 444.7 million kWh last year, accounting for 4.72% of the nation's total electricity output and securing China's position as the world's second-largest nuclear power producer, according to data from the China Atomic Energy Authority.
US is 15 years behind China in nuclear power
According to a June 2024 report by the Information Technology & Innovation Foundation, a nonpartisan research organization, the United States trails China by as much as 15 years in developing advanced high-tech nuclear power.
The report credited China's lead to its state-backed technological strategy and significant financial investment, noting that China has more than two dozen nuclear reactors under construction at different phases, with an average build time of around seven years, which was much quicker than most other countries.
"China’s rapid deployment of ever-more modern nuclear power plants over time produces significant scale economies and learning-by-doing effects, and this suggests that Chinese enterprises will gain an advantage at incremental innovation in this sector going forward," the report stated.
China's state-owned banks offered loans as low as 1.4%, far below the interest rates available in Western economies, and this favorable financing, combined with consistent government support and localization policies, allowed China to take a leading position in industries like renewable energy and electric vehicles, while also strengthening its nuclear power sector.
