China: High Speed Construction of Nuclear Power PlChina: High Speed Construction of Nuclear Power Plants!
Wehave all witnessed the speed at which China completed a brand newairport in preparation for the Olympic games. They did it in just fouryears in contrast to Heathrow Airport, which took six years just to getplanning approval. So they have now applied that same speed ofconstruction to the nuclear sector and the result is astounding.
“Chinais expanding nuclear power construction plans faster than earlierplanned, a senior energy official told state media on Saturday, sayinginstalled power capacity by 2020 could be 50 percent above the initialgoal” according to Reuters
China’snuclear energy development plan had hoped to achieve an operating powercapacity of 40 gigawatts by 2020. To put it into perspective that isthe same amount of power that Spain requires and representsapproximately 4% of China’s energy needs. However, the vice Minister ofthe National Development and Reform Commission has announced that thatthis figure will be exceeded by 50% to 60 gigawatts in the very sametime frame. This news ties in with what we have been saying on this website for some time, that in the rush to secure a supply of uranium forthe future energy needs. it is better to understate your real needsuntil you have those supply contracts in place. (27th September 2007 wewrote: we tend to think that China will announce more and more newproposals once it has tied up the supply of uranium) We believe thatthis is the first of many such announcements that will come out ofChina on a timely basis. News flow needs to be managed in order toavoid causing a panic in the market and driving up the price, well atleast until you have made certain that you can actually feed these newpower plants.
It maytake a while for this sort of news to sink in, but it does bringforward the delivery dates for uranium and will keep on doing so asChina charges ahead with record breaking construction schedules. It isalso well known that China is sitting on a mountain of US Dollars andother foreign currencies. The UD Dollar, in particular is falling outof bed, so what better way to unload this fast depreciating paper assetbut to swap it for your future power requirements?
https://www.uranium-stocks.net/china-high-speed-construction-of-nuclear-power-plants/