SNC-Lavalin, China National Nuclear Corporation, and Shanghai Electric Company agree joint venture

• 7 years ago (2016-09-23)
• David Flin

Asia 850 North America 998 Nuclear 640

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SNC-Lavalin has announced that it has signed an agreement in principle for a new Joint Venture with China National Nuclear Corporation (CNNC) and Shanghai Electric Group Company. The new company will develop, market, and build the Advanced Fuel CANDU Reactor (AFCR). The creation of the joint venture follows the signing of a framework agreement in 2014, and is subject to all government and regulatory approvals.

The new company is expected to be registered in mid-2017, and would be followed by the formation of two design centres – one in Canada and one in China – to complete the AFCR technology. This could lead to construction of the world’s first two AFCR in China, with possible subsequent builds in China and around the world.

Sandy Taylor, President for Power at SNC-Lavalin, said: “This is a game changer in the nuclear industry, and a great endorsement of our expertise and CANDU nuclear technology from the largest nuclear market in the world. Each new build will benefit Canada in terms of job creation, innovation and nuclear R&D;, environmental stewardship, and will contribute to reducing global carbon emissions.” Canada’s nuclear sector contributes over $6 billion annually to the economy.

Each AFCR can use recycled fuel from four light-water reactors (LWRs) to generate 6 TWh of additional electricity without needing any new natural uranium fuel. China has over 33 LWR nuclear reactors in operation, and another 23 LWRs under construction.