March 8 (Bloomberg) -- China may sign the first foreign orders for its CAP1400 nuclear reactor this year, the China Daily reported today, citing Sun Qin, chairman of the nation’s largest atomic plant builder.
The first orders for the Chinese-developed technology will probably come from South America or Asia and may be finalized if a CAP1400 reactor begins construction in China by the end of the year, the newspaper said. Sun, chairman of China National Nuclear Corp., declined to identify specific countries.
The Chinese technology is attractive because of the “favorable and unconditional” credit conditions offered to other nations, according to the report. CNNC didn’t immediately respond to faxed questions about the loans or the countries that are interested in buying reactors.
Gu Jun, general manager of State Nuclear Power Technology Corp., said on Feb. 1 in Beijing that “exploration of the global market” for the CAP1400 will start this year. SNPTC is China’s state-owned nuclear technology company.
The CAP1400 reactor is based on Toshiba Corp’s Westinghouse AP1000 design. China was the first country to start construction of the so-called third generation reactor, and later increased the power it can produce from 1,000 megawatts to 1,400 megawatts with an eye toward exports.
China may account for more than half of the nuclear capacity built between 2010 and 2020 worldwide, according to Deutsche Bank AG. Chinese companies will have a “strong domestic playing field to raise their profile,” helping them to become key competitors globally, Michael Tong, a Hong Kong-based analyst at Deutsche Bank, wrote in a May 2012 note.
--Editors: Shiyin Chen, John Liu