Zheneng Electric Power (600023.SH) Plans Equity Investment in Zhejiang Sanao Nuclear Power Phase III Project

Stock News

Sep 24

Zheneng Electric Power (600023.SH) has announced that it intends to form a project company, CGN Cangnan Third Nuclear Power Co., Ltd. (referred to as "Cangsan Company"), together with CGN Power and other parties to invest in the construction of the Zhejiang Sanao Nuclear Power Phase III project, in which the company will hold a 7% equity stake.

Cangsan Company will have an initial registered capital of 50 million yuan, with each shareholder contributing according to the aforementioned equity ratio, and Zheneng Electric Power's first-phase contribution will be 3.5 million yuan.

The Zhejiang Sanao Nuclear Power Plant is located in Sanao Village, Xiaguan Town, Cangnan County, Wenzhou City, Zhejiang Province, with a planned capacity of six million-kilowatt-class pressurized water reactor nuclear power units, planned in one go and constructed in phases.

Cangsan Company is the Phase III project company responsible for the construction of Units 5 and 6, and is currently in the pre-approval preparation stage.

The company's equity investment in the construction of the Zhejiang Sanao Nuclear Power Phase III project aligns with national and Zhejiang provincial energy industry policies, fits the company's strategic transformation and development direction, and will help the company further expand its nuclear power layout, optimize its energy industry structure, and build a diversified energy supply system.

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