Nuclear Power Sector in China Opens Doors for New Business Opportunities
China is the second largest electricity consumer in the world and the largest in the Asian region. Given the high growth rate of the economy, power demand is expected to increase very rapidly in the coming years. At present, the country currently meets 78% of its electric needs through coal based power. However, owing to growing energy security and environmental concerns, reduction in reliance on thermal power is crucial for China. The government is vigorously making efforts to tap clean energies to optimize the current power generation mix, which relies on coal for most of its power output. Looking to cut its dependence on coal, China is seeking to develop alternative energy sources to generate power.
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