A Huaneng-constructed nuclear power plant in Shandong Province. Photo: Xinhua

Construction of the nuclear power plant invested by China Huaneng Group - the first nuclear project under China's 14th Five-Year Plan - in Wenchang, South China's Hainan Province, kicked off on Wednesday.

With an estimated investment of 36.85 billion yuan ($5.62 billion), the plant will be the most expensive project in Hainan free trade zone (FTZ) to date and will provide 18 billion Kwh of clean electricity every year.

On the same day China's National Nuclear Safety Administration granted the construction license for the project, marking that the company first pressurized-water-type nuclear power reactor is ready for breaking the ground. 

The construction period is expected to take 60 months, and the project is expected to be put into operation at the end of 2026.

The project, which China owns intellectual property rights, has been listed as one of Hainan's major projects in 2021. And the designed capacity is 18 billion Kwh per year, which means it will lower the consumption of 5.5 million tons coal, and lower the CO2 emissions of 13 million tons ever year.

Huaneng is the largest power project investor in Hainan as the company's total investment in the province has exceed 30 billion yuan, and all of the invested projects have generated 2 trillion Kwh electricity now.