China National Nuclear starts construction of 650-megawatt Hainan reactor

China National Nuclear Corp., the country's biggest operator of nuclear power plants, started construction of a 650-megawatt reactor in the southern island province of Hainan.

The No. 2 reactor, one of two to be built in the first phase, will start commercial operations in 2015, China National Nuclear said in a statement on its website today. Investment in the initial phase of the Changjiang plant will exceed 20 billion yuan ($3 billion), the Beijing-based company said.

China wants at least 15 percent of its energy mix to come from non-fossil fuel by 2020 and is accelerating construction of nuclear plants to help meet that goal. The Hainan facility will join 23 other reactors being built in China, the nation with the biggest nuclear-power capacity under construction, according to the official Xinhua News Agency in May.

Work on the No. 1 reactor at Changjiang started on April 25 and operation at the facility will begin end-2014, China National Nuclear said in today's statement. The reactor will also have a capacity of 650 megawatts.

SOURCE: www.businessweek.com