China, France unveil biggest new energy joint venture

> BEIJING, Dec 21, 2009 -- Xinhua
>
> China and France unveiled a nuclear energy company Monday, marking the
> establishment of the biggest Sino-French new energy joint venture.
> Chinese Vice Premier Li Keqiang and visiting French Prime Minister
> Francois
> Fillon attended the ceremony in Beijing, which also marked the
> official
> start of construction of the Taishan nuclear power station in south
> China's
> Guangdong Province.
>
> The joint venture, Guangdong Taishan Nuclear Power Joint Venture
> Company
> Ltd., is to take charge of constructing and operating the first-phase
> project of the power station.
>
> According to China Guangdong Nuclear Power Holding Co. Ltd. (CGNPC),
> the
> joint venture has a registered capital of about 16.7 billion yuan (2.5
> billion U.S. dollars).
>
> Electricite de France holds a 30-percent stake and CGNPC 70 percent.
>
> ENERGY COOPERATION
>
> A significant project in Sino-French cooperation on new energy, the
> nuclear
> power station would play an active and important role in promoting
> the two
> nations' utilization of advanced nuclear technology and their
> bilateral
> relations, Li said at the ceremony.
>
> According to CGNPC, the first-phase project of the nuclear power
> station got
> a total investment of 50.2 billion yuan (7.35 billion U.S. dollars),
> and
> would include the construction of two units using the Electron
> Paramagnetic
> Resonance (EPR) technology, with each unit capacity up to 1.75 million
> kilowatts.
>
> According to sources, the two units of the first-phase project are
> to be
> respectively put into commercial operation in 2013 and 2014, and will
> annually generate 26 billion kilowatt-hours on-grid energy when
> completed.
> Compared with coal-fired power plant, the project can reduce
> greenhouse gas
> emissions by around 22.7 million tons each year.
>
> The construction of the first-phase project is expected to last 52
> months.
>
> Fillon said France hoped to advance cooperation with China on
> nuclear fuel
> reprocessing, personnel training and research on the fourth generation
> nuclear reactor.
>
> The France-China cooperation on new energy would further demonstrate
> the two
> countries' responsible attitude towards environmental protection and
> tackling climate change, said Fillon, noting the two sides would
> promote
> bilateral cooperation in the spirit of mutual trust.
>
> France enjoyed cutting-edge technology and management experience,
> while
> China had great market potential in nuclear energy. The two
> countries had
> had successful nuclear energy cooperation over the past years, said
> Zhou
> Dadi, former director of the National Development and Reform
> Commission's
> Energy Research Institute.
>
> He added that using international advanced technology would help
> beef up
> China's development in nuclear energy, energy saving and emission
> reduction.
>
> The attendance of the two leaders at the ceremony reflected the
> importance
> the two countries attached to enhancing nuclear energy cooperation,
> CGNPC
> chairman Qian Zhimin said at the ceremony.
>
> Both France and China paid great attention to technology innovation
> and
> energy independence, said Fillon.
>
> As a major energy-producer and consumer in the world, China has been
> making
> continuous efforts to improve its energy structure.
>
> When attending the UN Climate Change Summit, President Hu Jintao
> said China
> would endeavor to increase the share of non-fossil fuels in primary
> energy
> consumption to around 15 percent by 2020.
>
> According to the country's long and mid-term development plan of
> nuclear
> power plants, nuclear power installed capacity will reach 40 million
> kilowatts by 2020 and will generate 260 billion to 280 billion
> kilowatt
> hours of electricity each year, accounting for 4 percent to 6
> percent of the
> country's total.
>
> Actively developing nuclear energy was an important step taken by
> China to
> adjust energy structure, said Li Keqiang earlier Monday when meeting
> with
> Fillon.
>
> China plans to launch construction of four other nuclear power
> plants in
> 2009, which are located in Zhejiang, Shandong and Hainan provinces.
> Construction of three of these plants has already been underway.
>
> MOMENTUM OF TIES
>
> Fillon is on his first official visit to China since taking office.
>
> During his meeting with Vice Premier Li, they also exchanged views
> on the
> state-to-state relations.
>
> China and France recently saw sound momentum of accelerating
> development of
> the bilateral relationship, Li said.
>
> He said China was ready to work with France to stick to the correct
> direction of the development bilateral ties, properly handle sensitive
> problems, respect each other's core interests and major concerns,
> consolidate political mutual trust, and jointly tackle global
> challenges
> such as energy, resources safety and climate change.
>
> They agreed the two countries had comprehensive common interests and
> broad
> prospects for cooperation, whereas the world continued to undergo
> complicated and profound changes.
>
> Fillon said France was glad about the progress made in the bilateral
> nuclear
> energy cooperation.
>
> France was willing to work with China for the stable and harmonious
> development of bilateral relationship.
>
> Premier Wen Jiabao also met with Fillon on Monday. President Hu
> Jintao and
> top legislator Wu Bangguo are expected to meet with him Tuesday.
>
>