CNNC seeks finance for innovative nuclear project

Friday, 28 March 2025

CNNC seeks finance for innovative nuclear project
A rendering of the Xuwei plant (Image: CNNC)

At the 26 March meeting, participants were given a development overview and project status report by CNNC Suneng Nuclear Power Company, the CNNC subsidiary which is the owner of the Xuwei project and responsible for project investment, construction and operation management.

The meeting was attended by representatives of CNNC, CNNC Finance Company, CNNC Jiangsu Energy and Jiangsu Nuclear Power, as well as relevant leaders of banks and financial institutions, including China Development Bank, China Export-Import Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China Postal Savings Bank, China Merchants Bank, and China CITIC Bank.

Representatives said they would “further leverage the advantages of financial institutions to unswervingly provide continuous and reliable financing support and high-quality financial services for the Xuwei project”, according to CNNC.

Xuwei Phase I was among 11 reactors approved by China’s State Council in August last year. CNNC plans to build two 1208 MWe (net) Hualong One units and one 660 MWe high-temperature gas-cooled reactor (HTGR) unit at the site. The project will be equipped with a steam heat exchange station, which will adopt the heat-to-electricity operation mode for the first time.

At the plant – very close to CNNC’s existing Tianwan plant – demineralised water will be heated by the primary steam of the Hualong One units to produce saturated steam, and the primary steam of the HTGR will be used to heat the saturated steam for the second time.

“After completion, it will have both high-quality steam supply and power generation capabilities under the designed operating conditions,” CNNC said when the project was approved. “After the project is completed and put into operation, it will supply 32.5 million tonnes of industrial steam annually, with a maximum power generation of more than 11.5 billion kilowatt-hours, which can reduce the use of standard coal by 7.26 million tonnes and reduce carbon dioxide emissions by 19.6 million tonnes each year.

CNNC said the project “carries the important mission of transforming the country’s energy structure and commercialising the fourth-generation nuclear power technology high-temperature gas-cooled reactor.” 

In August, CNNC said the project had been included in the national plan and had undergone a comprehensive safety assessment review. “At present, the project site is steadily and orderly advancing various preparatory work before the start of construction,” it added.

   

  • Related Posts

    Holtec and EDF submit UK SMR project proposal

    The two companies have also signed Heads of Terms to establish a joint venture to advance the project at the former coal power station site, which has existing grid infrastructure…

    Walmart signs nuclear power purchase agreement with Constellation

    The agreement is for about 176 MW of supply, including 30 MW of expanded generating capacity, at the two-unit Dresden Clean Energy Center. It is Walmart’s first nuclear power purchase…

    Have You Seen?

    Rubio on Gulf Tour as Allies Sceptical About Iran Deal Seek Answers

    • June 24, 2026
    Rubio on Gulf Tour as Allies Sceptical About Iran Deal Seek Answers

    U.S. Crude Stocks at Cushing Hit Near 12-Year Low, Fuel Inventories Rise, EIA

    • June 24, 2026
    U.S. Crude Stocks at Cushing Hit Near 12-Year Low, Fuel Inventories Rise, EIA

    Iran, Oman to Coordinate Hormuz Transits

    • June 24, 2026
    Iran, Oman to Coordinate Hormuz Transits

    Adani Targets 10 GW Nuclear Power Capacity in India by 2035

    • June 24, 2026
    Adani Targets 10 GW Nuclear Power Capacity in India by 2035

    UK Climate Panel Urges Faster Electrification to Lower Energy Bills

    • June 24, 2026
    UK Climate Panel Urges Faster Electrification to Lower Energy Bills

    VLCC Earnings Near $470,000 a Day as Hormuz Hopes Drive Tanker Frenzy

    • June 24, 2026
    VLCC Earnings Near $470,000 a Day as Hormuz Hopes Drive Tanker Frenzy

    Oil Extends Losses on Expectations of Smoother Crude Flows via Hormuz

    • June 24, 2026
    Oil Extends Losses on Expectations of Smoother Crude Flows via Hormuz

    US CFOs in Survey Say Firms Mostly Absorbed Oil Price Shock

    • June 24, 2026
    US CFOs in Survey Say Firms Mostly Absorbed Oil Price Shock

    Global Physical Crude Markets Mired in Discounts as Middle East Ramps Up Supply

    • June 24, 2026
    Global Physical Crude Markets Mired in Discounts as Middle East Ramps Up Supply

    CarbonX CO2 electrolysis prize fund winner plots scale up timelines

    • June 24, 2026
    CarbonX CO2 electrolysis prize fund winner plots scale up timelines