SCMP says in its report “Securing power in the South China Sea: Beijing’s plans for floating nuclear reactors get US$150 million boost”, “State-owned China National Nuclear Power announced on Thursday it was establishing the new company – with registered capital of one billion yuan (US$150 million) – in cooperation with Zhejiang Zheneng Electric Power, Shanghai Guosheng Group, Jiangnan Shipyard and Shanghai Electric.”
As China’s major shipyard Jiangnan Shipyard is a party to the joint venture, there is speculation that the joint venture will build floating nuclear reactors for China’s artificial islands on the South China Sea.
SCMP says, “In a separate notice the state power giant said the new company will also seek to promote the development of nuclear-powered vessels.”
Floating power station is certainly nuclear-powered so that the notice proves the above speculation. However, the nuclear-powered vessels may well be nuclear-powered aircraft carriers and other powerful warships.
Anyway, the new joint venture with the huge investment proves that China is making great efforts to provide nuclear power for its warships, islands and exploitation of maritime resources, etc.
Comment by Chan Kai Yee on SCMP’s report, full text of which can be found at http://www.scmp.com/news/china/diplomacy-defence/article/2106473/chinas-ambitions-develop-floating-nuclear-reactors.