China to expand nuclear power capacity

China is expected to raise its target for the nuclear power industry to 86 gigawatts by 2020, or 5% of its power generation, highlighting the country’s move to accelerate the development of the industry, state media reported. This will represent at least US$10.6 billion of investment annually. According to Zhang Guobao, former director of the National Energy Administration, the country will give the green light to another 10 nuclear power projects during the 12th Five-Year Plan from 2011-2015. China National Nuclear Corp (CNNC), the country’s largest nuclear power company, plans to invest US$121.5 billion in nuclear projects by 2020. Currently, nuclear stations account for only 2% of China’s total power generation.