2 Chinese nuclear power giants plan JV
Print Edition
Two Chinese nuclear power giants are planning a joint venture to combine technologies on China’s third-generation nuclear reactor design, known as the Hualong One, a source familiar with the matter said yesterday.
China General Nuclear Power Group (CGN) and China National Nuclear Corp have decided to set up a company to reduce competition in exporting Hualong One into overseas markets, according to the source, who declined to be identified.
The plan has been forwarded to authorities and a coordination meeting will be held soon.
“If everything goes well, the joint venture will be set up before the end of this year,” the source said.
The two companies jointly started the R&D of Hualong One in 2013 based on their respective technologies. The general plan passed inspection by a national expert panel in August 2014.
In May 2015, construction on the first pilot project using Hualong One technology started in Fuqing, Fujian Province.
On Wednesday, CGN and Electricite de France signed a strategic investment agreement to build a nuclear power plant at Hinkley Point in southwestern England.
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