CGN to expand overseas nuclear plant business
By Mike Hayes22 February 2016
China’s largest power plant builder has announced plans to expand its operations on a worldwide scale.
China General Nuclear Power Corp (CGN), the country’s largest state-owned nuclear energy company, is in discussions with nations in Southeast Asia, Eastern Europe and Africa, with a view to securing nuclear power plant contracts in each region.
Between 2009 and 2014, CGN operated as a sub-contractor on foreign nuclear projects; it now states it has made innovations to the technology, which it will use to generate revenue overseas.
The company states it is building relationships with 13 countries currently planning the development of power plants.
CGN’s deputy general manager of international nuclear power business development, Yang Maochun, told the South China Morning Post, “We are still at a start-up stage in the overseas nuclear business, we hope to ramp up its contribution.
“We aim to have a minimum of 15% of our revenue coming from overseas by 2020, to be derived from nuclear power plant investment and engineering services, uranium mining and trading, besides non-nuclear clean energy generation.”
In 2014, CGN sourced around 10% of its total sales from overseas, with projects such as uranium trading and mining in Kazakhstan, and wind and solar projects in Singapore, Australia, the US and Europe.