State Nuclear Power Technology Corp inks deal to build 4 nuke power reactors

And inks deal with US and Turkish firms.

It has been announced that State Nuclear Power Technology Corp (SNPTC) has signed a cooperation memorandum with US-based Westinghouse and Turkish national power company EUAS to build four nuclear power reactors using CAP1400 and AP1000 technologies.

According to a research note from Maybank Kim Eng, it believes the agreement shows China is gaining global recognition for its nuclear power.

Further, Maybank Kim Eng also noted that CGN Power and CNNC are also developing GEN III power plants and it expects this will lead to more overseas opportunities.

Here's more from Maybank Kim Eng:

The State Council has announced it will delegate some project approval rights of key hydropower plants to local energy bureaus.

Currently key hydropower plants in China require approval from the National Energy Administration.

Our comments: We expect this will speed up development of hydro power plants in China to help meet its 350GW of hydropower capacity by 2020.

This could be positive news for hydropower operators. Faster development of hydropower may also benefit hydropower equipment makers, such as Harbin Electric.