China’s largest nuclear power firm plans to expand into the UK’s renewable market
The largest nuclear power company in China and the third largest in the world, China General Nuclear Power Group (CGN), aims to expand its operations in the UK.
The firm is targeting clean energy projects in Britain, specifically wind power and liquefied natural gas (LNG) opportunities.
CGN already owns more than 300MW of wind capacity in the UK – the firm acquired a 33.5% stake in the 3.3GW Hinkley Point C farm in 2016, as well as 20% shares in 3.2GW Sizewell C, both from EDF.
The company also has 66.5% stake in the Bradwell B nuclear plant located in the east of England.
CGN confirmed it is willing to pursue all avenues to add to its UK portfolio, including acquisitions and green field project development.
“In the UK, we aim to become an important and reliable developer, operator and builder of clean energy projects,” remarked Zheng Dongshan, Senior Vice President of CGN.
The firm has set the ambitious goal of potentially reaching the same operating scale of EDF Energy in the future.
CGN aims to invest in cleaner energy in the UK as it decommissions old nuclear reactors and coal-fired plants in a bid to focus on renewables.