CLP bids to buy stake in Yangjiang Nuclear Power

• 7 years ago (2016-11-02)
• David Flin

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Hong Kong-based power suppliers CLP Holdings has submitted a bid to acquire a 17 per cent equity interest in Yangjiang Nuclear Power, a mainland Chinese operator of the Yangjiang nuclear power plant.

The tender was opened by China General Nuclear (CGN Power), one of China’s largest nuclear power plant operators and generators. CGN is planning to sell its 17 per cent stake in Yangjiang Nuclear for $750 million.

CLP said in the filing: “We have consistently expressed our interest in further investment in nuclear power generation in China should the right opportunities arise. Furthermore, an investment in nuclear power generation would be in line with our intention to progressively reduce the carbon intensity of our generation portfolio and our Climate Vision 2050.”