China ups its nuclear generation target

News wires in China were yesterday reporting that China is considering increasing its total installed nuclear power generating capacity to 70 GW by 2020. According to the reports Huang Li, head of energy conservation and equipment at the National Energy Administration has indicated at a meeting in Chengdu, Sichuan province that "The severe winter weather earlier this year in southern China that paralyzed electricity supplies and coal transportation exposed risks and vulnerability in the traditional power supply system." She added, "The global efforts to reduce greenhouse gas emissions had prompted China, which relied heavily on coal, to revise its energy strategy and increase the proportion of clean energy."
The current installed capacity of nuclear power is only about 9 GW, or 1.3% of the total installed electricity generating capacity. Huge capacity for nuclear generation growth...which is good for near term uranium producers....eg AGS