(Yicai Global) Jan. 11 -- The UK government accepted the application for the general design assessment of the Chinese-designed Hualong No. 1 nuclear technology, jointly submitted by state-owned China General Nuclear Power Group and Electricite de France [ENX:EDF].
"The UK government's Department for Business, Energy and Industrial Strategy director, Jesse Norman, has ordered independent regulatory institutions to conduct a general design assessment for Hualong No. 1 technology," said the Chinese group.
During the assessment, the Office for Nuclear Regulation will evaluate the third-generation technology for security and the Environmental Agency will assess its environmental influence.
Hualong No.1's assessment is a key step for developing the technology in the UK or in the global nuclear power market. The examination is regarded as the strictest globally for nuclear power technologies.
After working for over five years, France-based Framatome, now Areva NP [ENX:AREVA], Electricite de France and German company Siemens [FWB:SIE] created EPR, the only technology to pass the test.
The EPR design was previously known as the European Pressurized Reactor. While American AP1000 technology has already received US regulatory approval, dozens of improvements will be necessary for it to pass the GDA, or Generic Design Assessment process.
The Chinese, CGN and French, EDF, nuclear companies signed a series of agreements with the UK Government on Sept. 29, 2016 under which CGN will construct three major nuclear power projects in cooperation with EDF including Hinkley Point C, Sizewell C and Bradwell B.
The Bradwell B project will feature Hualong No. 1 technology. CGN will lead the scheme with EDF providing support. During the development phase CGN and EDF will invest 66.5 percent and 33.5 percent, respectively.