CGNPCChina Guangdong Nuclear Power Company
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The assessment of SPIC under our GRE criteria is in line with our assessment of CGNPC and China Huadian Corporation Ltd.
This plant will be managed through a joint venture, Ulba-FA, the founders of which are Ulba Metallurgical Plant JSC (51%) (a Kazatomprom's subsidiary) and CGN-URC (49%) (a subsidiary of CGNPC).
CGNPC which operates over 40% of China's nuclear power generating capacity said in April 2009 it would develop a uranium deposit in Kazakhstan with reserves of 40,000 tons in a JV with Kazatomprom.
His indictment further alleges that CGNPC facilitated the travel of the U.S.-based experts to China and took payments in exchange for their services.
Two of them, China National Nuclear Corporation (CNNC) and China General Nuclear Power Corporation (CGNPC), responded by quickly producing their own reactor designs, which they described as being compliant with Generation III requirements.
According to sources CGNPC operates four nuclear power plants of 3,758 MW in China and is also associated with 16 other under-construction projects having capacity of 25,000 MW.
The agreement was signed by Nurlan Kapparov, CEO of NAC Kazatomprom JSC, and Zhang Shanming, General Manager of CGNPC.
Kazatomprom signed agreements in 2009 with CGNPC and India's Nuclear Power Corporation (NPCIL) for the establishment of a corporation for the construction of nuclear power plants in China, India, and Kazakhstan.
EDF has made no secret of having started investment talks with its Chinese competitor, China Guangdong Nuclear Power Co (CGNPC).
In early May 2011, CGNPC withdrew its $1.24 billion bid to acquire a controlling interest in Kalahari Minerals PLC, which is developing a uranium mine in Namibia and then reopened the talks in the fall of 2011.
In China, only three state-owned enterprises are licensed to own and operate nuclear power plants: the CNNC, the China Guangdong Nuclear Power Corporation ("CGNPC"), and the China Power Investment Corporation ("CPIC").
(SeeNews) - Nov 13, 2012 - French utility EDF (EPA:EDF) and nuclear group Areva (EPA:AREVA) said today they had agreed to cooperate with Chinese electricity group CGNPC for the construction of a nuclear reactor.