(Yicai) Aug. 20 -- China’s cabinet has given the nod to a record 11 new nuclear reactors across five projects, with total investment in excess of CNY200 billion (USD28 billion).

China National Nuclear Corporation, China General Nuclear Power Group, and State Power Investment Corporation are involved in the projects, with three, six, and two nuclear reactors, respectively, Yicai learned from the firms after the State Council gave its approval yesterday.

China has steadily approved new atomic energy projects in recent years. Ten projects were approved both last year and in 2022.

A recent document released by the State Council emphasized the need to hasten development of clean energy bases, including wind and solar in the northwest, hydropower in the southwest, offshore wind power, and coastal nuclear power. It also stated that by 2030, the share of non-fossil fuels in China’s energy consumption should increase to around a quarter.

The coming years will be a "golden period" for nuclear power development in China, several industry insiders recently told Yicai, adding that as a clean and stable energy source, it will play an irreplaceable role in the country’s green transition.

The country has invested about CNY20 billion (USD2.8 billion) in each one million kilowatt nuclear reactor, with each cutting the use of standard coal at thermal power plants of the same size by 3 million tons a year.

Each one million KW reactor can meet the annual electricity needs of a population of one million while achieving significant energy savings and lower emissions. It also saves on fuel transportation costs and cuts carbon dioxide emissions by 6 million tons, sulfur dioxide by 26,000 tons, as well as nitrogen oxide emissions.

Editor: Martin Kadiev