09.07.2018_No134 / News in Brief

China’s CGN Looking For Major Stake In UK Nuclear Fleet, Says Report

Corporate

9 Jul (NucNet): China General Nuclear Power Group (CGN), the state-run corporation that owns 35% of the Hinkley Point C EPR project, is said to be interested in buying a major stake in the UK’s fleet of eight commercial nuclear power stations, The Sunday Times reported.

The London-based newspaper said the power stations are operated by EDF Energy, a subsidiary of the French state-controlled EDF, but earlier this year, the British Gas owner, Centrica, put its 20% stake up for sale.

The Sunday Times suggested CGN hoped to acquire a 49% stake, which indicates EDF could be looking to offload some of its shareholding.

CGN is the biggest owner and operator of nuclear power stations in China and the world’s largest builder of nuclear reactors.

The company has 20 nuclear units in commercial operation in China, with a total capacity of 21.47 GW, or 62% of China’s installed nuclear power capacity. It has eight units under construction with a capacity of 10.27 GW, accounting for 44% of China’s nuclear new-build projects and 17% of all new-build globally.

CGN is already a majority shareholder in Bradwell Power Generation Company, a joint venture with EDF which is planning to build the UK version of the HPR1000 plant, also known as the Hualong One, at Bradwell B.

The UK’s eight commercial nuclear stations – which have a total of 15 reactor units – are Dungeness B, Hartlepool, Heysham A, Heysham B, Hinkley Point B, Hunterston B, Sizewell B and Torness.

Related reports in the NucNet database (available to subscribers):

  • EDF Energy In Talks With Private Investors For Sizewell C Project, Says Official (News in Brief No.127, 28 June 2018)

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David Dalton

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