CLP to invest in Yangjiang Nuclear Station

CLP, CGNPC and Guangdong Yudean Group will coinvest in Yangjiang Nuclear Power Station in Guangdong, China.

Under the agreement, China Light and Power will own 17 percent of the project. An additional partner in the project will include CGN Phase I Private Equity Fund Co., Ltd.
Located on the coast of Guangdong, approximately 220 kilometres west of Hong Kong, the 6,000 MW Yangjiang Nuclear Power Station with six 1,000 MW pressurised water reactor units will supply electricity to meet local demand in Guangdong Province. The construction of the station commenced in 2008, and the project is expected to be commissioned in phases between 2013 and 2017.

"The Yangjiang project reinforces CLP's ongoing commitment towards low carbon generation to meet the interim target of increasing our non-carbon-emitting generating capacity to 20 percent by 2020, as set out in our Climate Vision 2050. This investment also supports the Central Government's announcement to cut 40 percent to 45 percent of carbon dioxide emissions per unit of GDP in China by 2020 from its 2005 level, whilst contributing to the sustainable development of the Pearl River Delta region," said Mr Chan Siu Hung, Director of CLP Nuclear Investment Company Limited, a wholly owned subsidiary of CLP Holdings.

"We are pleased to work closely with CGNPC - our longtime partner in the Daya Bay Nuclear Power Station," Mr Chan added. "This agreement marks another important milestone in our collaboration on clean power generation in the Mainland."

CLP started its joint venture partnership with China Guangdong Nuclear Power Company to develop China's first commercial nuclear power station - Daya Bay Nuclear Power Station in 1985.