CGN Power buys $1.5 billion of parent’s China Nuclear Assets

• 8 years ago (2016-09-26)
• David Flin

Asia 945 North America 1046 Nuclear 690

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CGN Power, China’s biggest nuclear power operator, will acquire two nuclear power plants and an engineering unit from its parent company for $1.5 billion.

CGN will take full ownership of the unit that runs the Lufeng nuclear power plant and CGN Engineering, as well as the parent company’s 61 per cent stake in the subsidiary that runs the Fangchenggang nuclear power station.

China General Nuclear Power Corporation, the parent company, said that the second reactor began operations at Fangchenggang, in Guangxi province, in July. The project’s current operable capacity is 2172 MW. The company will build the third and fourth units using China’s Hualong One third-generation reactor technology. Phase one of the Lufeng project consists of two AP1000 reactors with a total installed capacity of 2500 MW.