CLP completes Yangjiang buy-in

26 July 2011

An earlier version of the article included a mistake regarding the value of CLP's stake in Yangjiang. That is corrected below.

 

Hong Kong-based CLP Holdings subsidiary CLP Nuclear Investment Company has finalised an agreement that will see it take 17% ownership of a nuclear power plant under construction on the Chinese mainland. The deal follows on from an agreement of cooperation intent to co-invest in the Yangjiang plant signed by CLP and China Guangdong Nuclear Power Co (CGNPC) in July 2010. Construction work began on the first Yangjiang CPR-1000 unit in 2008, and three out of six planned units at the site are now formally under construction. The units are expected to enter service in phases between 2013 and 2017. CLP and CGNPC are long-standing business partners, having jointly developed and operated the Daya Bay nuclear power plant. According to CLP, the total cost of the Yangjiang plant is RMB 70 billion ($11 billion).

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