Private investments played a significant role in all of China’s newly approved nuclear power projects last year, with private equity holdings reaching a record high of 20 percent. Additionally, investment levels and electricity sales revenue experienced notable growth, according to a recent government report from the country with the world’s largest pipeline for nuclear construction.
In the past year, China approved ten new nuclear reactors with a total capacity of 12.1 million kilowatts across the provinces of Zhejiang, Shandong, Fujian, Guangdong, and Guangxi. These projects, collectively costing CNY 208.3 billion (approximately USD 29 billion), attracted investments from ten private companies. The largest equity stake held by a private investor was a 20 percent share, marking the highest level ever recorded, as detailed in the National Energy Administration’s latest Nuclear Energy Development Report 2026.
The report indicated that investments in ongoing nuclear projects reached about CNY 161 billion last year, representing nearly a 14 percent increase compared to the previous year. Sales revenue from nuclear power also saw a rise of close to 3 percent, reaching CNY 172 billion.
Furthermore, the report highlighted that nuclear energy is expected to gradually become a more integral part of China’s electricity market. As the country moves toward establishing a unified national electricity system, it emphasized the importance of exploring policy mechanisms to better integrate nuclear power and suggested developing institutional frameworks that emphasize its low-carbon benefits, thus enhancing its competitiveness in the market.
By the end of 2025, China’s nuclear fleet comprised 112 reactors that are either operational, under construction, or approved for construction, with a cumulative capacity nearing 125 million kilowatts—almost triple the capacity from 2012. Among these, 59 reactors are already operational, with a combined capacity of roughly 62.5 million kilowatts, ranking third globally behind the United States and France. An additional 53 reactors either under construction or approved for construction have a combined capacity of approximately 62.9 million kilowatts, maintaining China’s position as the country with the world’s largest nuclear construction pipeline for the 19th straight year.