Native name 中国广核集团 Industry Energy Headquarters Shenzhen | Type State-owned Key people Liang Yu (Chairman) Founded September 1994 | |
Predecessor China Guangdong Nuclear Power Group Area served Mainland China
Malaysia Parent organization State-owned Assets Supervision and Administration Commission of the State Council Subsidiaries CGN Power Co, CGN New Energy Holdings Co Ltd | ||
China General Nuclear Power Group (CGN) (Chinese: 中国广核集团), formerly China Guangdong Nuclear Power Group (Chinese: 中国广东核电集团), is a major energy corporation under the SASAC of the State Council.
Contents
CGN has operating nuclear plants at Daya Bay Nuclear Power Plant, Ling Ao Nuclear Power Plant, Hongyanhe Nuclear Power Plant and Ningde Nuclear Power Plant, with five new nuclear power stations under construction and another 2 planned.
CGN operates in other emerging energy industries like wind energy and solar energy, as well as more traditional industries like hydroelectricity. As of 2014 CGN operates power generation plant of the capacity: nuclear 8.3 GW, wind 4.7 GW, hydro 4.0 GW and solar 600 MW.
History
China Guangdong Nuclear Power Holding Co., Ltd. (CGNPC) was established in September 1994 with a registered capital of RMB 10.2 billion with nuclear power as its core business. With CGNPC as its core enterprise, China Guangdong Nuclear Power Group (CGNPG) comprises more than twenty wholly owned or controlling subsidiaries.
In April 2009, a fund run by China Guangdong Nuclear Power Group signed a deal raising US$1.03 billion for nuclear and related energy projects. Guangdong Nuclear's fund, the first industrial fund set up by a state-owned enterprise with approval from the State Council signed the fund-raising agreement with Bank of China, China Development Bank and other institutions, which will become shareholders in the fund. The financing is the first of two phases for the fund, which plans to raise a total of 10 billion yuan.
In May 2013, the organization changed its name to China General Nuclear Power Group (CGN) to signify that its operations extend beyond Guangdong province.
In December 2014, CGN raised $3 billion by an initial public offering (IPO) in Hong Kong.
In December 2014, the firm announced it was acquiring three wind farms in the UK with a combined capacity of 73 megawatts from French energy company EDF Energy for a fee estimated to be in the region of £100 million.
In November 2015, the company and its subsidiaries agreed to acquire 1Malaysia Development Berhad's energy assets, worth around $2.3 billion.
Technology import and development
CGN's first nuclear station uses reactors designed and built by the French National Company, Framatome. Then it developed an improved PWR (pressurized water reactor) called CPR-1000 based on the French type. CPR-1000 is a fully Chinese designed and constructed reactor type which takes a large proportion in all the reactors being built in China, and is believed to be the company's best example of what the company has to offer. This has been developed into the Generation III Hualong One design.
In February 2007, CGN signed a contract with Areva to build Taishan nuclear station with Areva's EPR, and the Xianning nuclear station will use Westinghouse Electric Company's AP1000. These two events makes this company among the first to build a nuclear station with generation III+ reactors.
Nuclear stations
Operating stations: Daya Bay Nuclear Power Plant and Ling Ao Nuclear Power Plant phase I.
Under construction: Hongyanhe Nuclear Power Plant, Ningde Nuclear Power Plant, Yangjiang Nuclear Power Station, Taishan Nuclear Power Plant and Fangjiashan Nuclear Power Plant.
Planned: Lufeng Nuclear Power Plant, Xianning Nuclear Power Plant (entering early construction), Wuhu Nuclear Power Plant and Jiangsu's Second Nuclear Power Project