Two major Chinese energy companies join forces

25 April 2019

China General Nuclear (CGN) – the largest Chinese nuclear corporation after the China National Nuclear Corporation (CNNC) – on 17 April signed a nuclear cooperation framework agreement with China Huaneng. The agreement will result in combining the efforts of these companies to prevent competition between them in the domestic market, jointly developing new technology projects and promoting Chinese energy projects in foreign markets.

Currently, CGN has 21 operating nuclear power units in China with seven more under construction. In addition, CGN acquired a 33.5% stake in the EDF Energy project for the construction of the Hinkley Point C  in the UK with plans to jointly build new nuclear plants at Sizewell and Bradwell. China Huaneng Group, formed in 2002, is an independent state-owned but incorporated business entity focused on power generation, and has about 138GWe in operation, none of which is nuclear.

China Huaneng is the fourth Chinese central enterprise to obtain qualification for nuclear power development. It had a 49% stake in the Changjiang nuclear plant but transferred this to Huaneng Power International in December 2010. It also has a 5% stake in the Haiyang project. The utility also has links with both CNNC and CGN.


Photo: CGN and China Huaneng signed a strategic cooperation agreement in April (Credit: China Huaneng)
 



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