China approves 8 nuclear units in $25 billion expansion push

China's State Council approved eight new nuclear generating units across four projects with combined investment exceeding RMB170 billion ($25 billion), extending Beijing's reactor build-out toward a 110 GW target by 2030.

The approvals were disclosed through stock-exchange filings by state-controlled developers, including CGN Power Co., China National Nuclear Power Corp., and SPIC Industry-Finance Holdings Co., according to regulatory statements.

The batch includes Units 3 and 4 at the Jinqimen plant in Zhejiang, Units 5 and 6 at Taipingling in Guangdong, Units 1 and 2 at Zhuanghe in Liaoning, and Units 1 and 2 at Laiyang in Shandong. The Taipingling and Jinqimen facilities will deploy Hualong One Version 2.0, China's domestically developed third-generation reactor technology, with each Taipingling unit rated at 1,217 MW. The Laiyang project will feature two Guohe One reactors at 1,543 MW each, with total investment of about $18 billion, making it China's largest nuclear station by installed capacity once all six units are complete.

The approvals mark the first batch of China's regular nuclear project permits for 2026, following at least 10 new reactor units approved annually between 2022 and 2025. China generated 485 terawatt-hours of nuclear electricity in 2025, second only to the United States at 826 terawatt-hours, and supplied all of the world's net nuclear generation growth last year. Nuclear still accounts for just 3.3 percent of China's total energy supply, leaving substantial room for expansion as the country targets 110 GW of installed capacity by 2030 — a 76 percent jump from end-2025 levels.

Hualong One 2.0 and Guohe One Lead the Build-Out

The upgraded Hualong One Version 2.0 technology represents a step forward from the original design that has powered China's recent reactor fleet. The six-unit Taipingling plant is expected to produce more than 55 billion kWh of electricity annually once fully operational, according to CGN Power Co. The Jinqimen site will become the fourth nuclear energy base in Ningbo, Zhejiang, with its Phase II development also allowing participation from private capital, according to Global Times.

The Laiyang project in Shandong marks the beginning of large-scale, standardized construction of Guohe One reactors, China's independently developed third-generation nuclear technology, according to SPIC Industry-Finance Holdings Co. Each unit at Laiyang will have a generating capacity of 1,543 MW, and the plant is expected to become China's largest nuclear power station by installed capacity once all six units are completed.

Nuclear's Role in China's Power Mix

China currently leads the world in both operational nuclear capacity and the number of reactors under construction, according to Chinese media reports. The country's nuclear generation grew from 171 terawatt-hours in 2015 to 485 terawatt-hours in 2025, an average annual growth rate of nearly 11 percent, according to the Statistical Review of World Energy.

Despite this rapid expansion, nuclear remains a relatively modest part of China's enormous energy system. The country's nuclear share of total energy supply was about 3.3 percent in 2025, compared with roughly 47 percent in France and 9.6 percent in the United States. That gap shows the scale of the build-out still required to meet the 2030 target.

Beyond their role in producing low-carbon electricity, nuclear power projects have become a major source of infrastructure investment in China. The latest approvals follow a pattern of multiple reactor batches per year, with each new approval starting a construction cycle that can take years before power is delivered. Beijing fell short of earlier goals of 58 GW by 2020 and 70 GW by 2025, partly because of a years-long pause in approvals after Japan's 2011 Fukushima accident and supply-chain delays after the pandemic.

For investors, the approvals directly benefit China's nuclear supply chain. CGN Power (01816.HK) rose 2.1 percent following the announcement, while the broader sector stands to gain from sustained capital expenditure across reactor manufacturers, fuel suppliers, and engineering contractors. The 110 GW target implies roughly 47,000 MW of new capacity in about five years, a pace faster than the country has sustained since the post-Fukushima pause.

This article is for informational purposes only and does not constitute investment advice.