EDF and Chinese electricity generator GCNPC (China Guangdong Nuclear Power Company) received final approval from the Chinese authorities for the creation of a 30:70 joint venture, TNPJVC: Guangdong Taishan Nuclear Power Joint Venture Company Limited. The JV company's purpose is to build and operate two EPR nuclear reactors in Taishan (in the Province of Guangdong).
The first unit of Taishan nuclear plant, modelled on the EPR currently under construction at Flamanville in Normandy, is scheduled for commissioning in late 2013.
EDF’s holding will be fixed at 30% for 50 years. The value of the deal was not disclosed.
This development makes EDF an investor for the first time in nuclear generation in China.
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