Hong Kong power utility CLP Holdings is to invest close to $11 billion in the Yangjiang nuclear power station project, currently under construction in Guangdong, China.
CLP says that it has reached an agreement with China Guangdong Nuclear Power Company Ltd. (CGNPC) to take a 17% stake in the project for about RMB 70 billion.
The 6000 MW Yangjiang nuclear power station will eventually comprise six 1000 MW pressurized water reactors of CPR-1000 design, a Chinese indigenous design based on French technology. The units are expected to be commissioned in phases between 2013 and 2017, according to CLP. Three units are currently under construction according to the International Atomic Energy Agency.
CLP and CGNPC jointly developed and operate the two-unit Daya Bay nuclear power station. CLP says that the companies plan to “transfer..proven experience on Daya Bay into the new project.”
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