Candu Energy said it welcomes the November 8 signing of a Memorandum of Understanding (MOU) between Natural Resources Canada and the China National Energy Administration to advance collaboration between the two countries in the field of civilian nuclear energy including development of advanced fuel reactors and exports to third markets.
The same day, Candu signed a framework joint venture (JV) agreement with China National Nuclear Corporation (CNNC) to build Advanced Fuel CANDU Reactor (AFCR) projects in China and develop opportunities for it globally. This followed a positive recommendation earlier this week from a Chinese Expert Panel Review on AFCR technology which concluded the proper time should be chosen to "initiate the construction of AFCR to unlock and utilize its various advantages."
"Taken together, the MOU, framework JV and positive recommendation by a Chinese expert panel represents a new level of cooperation between Canada and China in the next wave of nuclear energy innovation," said Preston Swafford, President & CEO, Candu Energy. "We look forward to working closely with CNNC in the development and pursuit of nuclear power generation projects in China and abroad using the new AFCR technology."
The framework JV was signed in Beijing at the Great Hall of the People while in the presence of The Right Honourable Stephen Harper, Prime Minister of Canada and Li Keqiang, Premier of the People's Republic of China.
"We are excited about the future of nuclear energy development," said Swafford. "If successfully rolled out, both Canada and China stand to benefit enormously from the creation of high-value added jobs, services and advanced manufacturing opportunities."