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China Energy Delivered

China Nuclear News Weekly Roundup - 08/17 -08/26

Tianwan Unit 5’s First Residual Heat Removal Cooler Installed

On August 1st, Tianwan Unit 5’s first emergency residual heat removal cooler was successfully installed. The equipment, developed by Nuclear Power Institute of China (NPIC), is a key part of the passive residual heat removal system. Subsequent work will be the installation of other primary equipment of the system. Tianwan Units 5&6 are China’s only Gen II+ units which are equipped with a passive residual heat removal system. Application of the system is an important milestone in China’s localization of advanced Gen III technology.


Reactor Internals of China’s Last M310 Unit Delivered

The upper and lower assembly of Tianwan Unit 6’s rector internals were shipped to site last week. It marks that the delivery of China’s last M310 reactor internals was completed. NPIC has developed ten sets of large equipment, including two sets of reactor pressure vessel, six steam generators, and two sets of reactor internals, for Tianwan Units 5&6 and all of them have been shipped to site by sea freight since July 2018.


Fuqing Unit 6’s Pressurizer Cleared for Delivery

On August 14th, Fuqing Unit 6’s pressurizer, designed by NPIC, procured by CNPE, and manufactured by Dongfang Electric, passed the pre-shipping inspection. Manufacturing of the pressurizer took more than 5 years and the result of the pre-shipping inspection marks a great success for all stakeholders. At this point, pressurizers for all four HPR1000 demonstration projects in China and Pakistan have been produced. It’s a vital breakthrough in localization of key nuclear equipment and paves the way for the HPR1000 reactor design to “go out”.


CGN’s A-share Stock Price Surges 44% on Its First Trading Day

August 26th was the first trading day after CGN’s initial public offering was initiated at the end of July. Its stock price went up by 44.18% on the same day, with a market value of 181.3 billion RMB. On the evening of August 21st, CGNPC released its half-year report, revealing that the revenue from January to June 2019 was 26.523 billion RMB, a 15.3% increase than last year, and the 5.023 billion yuan’s worth of net profit also grew 10%. The main reason behind is that Yangjiang Unit 5 and Taishan Unit 1 began commercial operation since July and December 2017, respectively, and thus increase CGNPC’s power sales revenue by 10.1%. The company also states that Taishan Unit 2, the other EPR demonstration unit, will begin commercial operation by end of the year. While CGN’s A-share stock price seems unaffected by the fact of being added to the Entity List, CGNPC’s H-share price dropped 3.20%, however, on the same day.