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« Is There Wisdom in the Crowd? | Main | Another Layer of Bureaucracy for Oil and Gas Exploration in the US? »
Thursday
Nov082012

Demand for clean energy gives Chinese nuclear companies ample opportunities in overseas markets

 

Unsatisfied with being just a market and testing ground of new reactor technologies for developed countries, China is now looking to be an energetic developer of nuclear power plants around the world with ambitions that are poised to reshape the global nuclear industry.

Such trends became more visible after the Fukushima disaster in March 2011, as many Western nations like Germany, Italy and Switzerland decided to shelve nuclear energy plans due to safety concerns. The lingering financial crisis has also prompted many Western nations avoid overseas nuclear projects, thereby opening the doors for China in the global nuclear energy market.

The latest example of China's growing interest in foreign nuclear projects was seen in the bid made by China Guangdong Nuclear Power Holding Co Ltd and State Nuclear Power Technology Corporation, a subsidiary of China National Nuclear Corporation for the Horizon nuclear reactor-building program in the United Kingdom.

Although the two companies have reportedly withdrawn from the bid for reasons that remain unclear, industry experts say the attempt was worth it, as it was the first time that Chinese enterprises have expressed interest in the nuclear project of a developed country. At the same time, it was also an ideal opportunity for Chinese enterprises to gain the valuable international partnership experiences that they previously did not have.

"If you can be at the top table in the UK, that's a great selling point around the world," a person close to the UK project was quoted by the Financial Times as saying.

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