China's largest energy company has stated its investment interest.
China General Nuclear Power Corporation /CGN/ has expressed investment interest in the development of nuclear energy in Bulgaria.
Representatives of the company have held meetings with the Minister of Energy after CGN sent a letter stating that they are interested in cooperation in the field of nuclear energy. During the meeting, the Minister explained to potential Chinese investors that the state supports the construction of new nuclear projects in the presence of strategic investors, but without providing state guarantees for the project. This is the second investment intention from China after another Chinese company from the nuclear energy sector had previously expressed interest.
Who are China General Nuclear Power Corporation /CGN/?
CGN is a world-leading corporation in the field of clean energy production. The company is the largest and most experienced operator of nuclear power plants in China. It is also one of the founders of the China Nuclear Energy Development Association. The company has 35,000 employees in over 40 subsidiaries and affiliates. They are developing their own reactor model using the „light water pressurized water reactor“ technology – HPR1000.
The Chinese company is also an investor in other nuclear projects in Europe – 30% in the Hinkley Point C project and a strategic investor in the expansion of the Cherna Voda NPP in Romania.
CGN is the operator of 14 nuclear power units with a total installed capacity of 89 GW, respectively 4 units – M 310; 10 units – CPR100.
CGN is building 14 nuclear power units with a total capacity of 16.822 GW. The power units under construction are: 6 units using CPR1000 technology, 4 units – ACPR1000, 2 units – EPR and 2 units – HPR1000.
CGN commissioned three new units in 2015 (Yangjiang 2, Ningde 3 and Hongyanhe 3) and is starting construction on three more (Yangjiang 6, Hongyanhe units 5 and 6). The company plans to commission five new nuclear units in 2016, including Hongyanhe 4 and Ningde 4. According to CGN, the share of energy produced by nuclear power plants should increase. In addition, CGN notes that 69.7 million tons of carbon dioxide have been saved as a result of the operation of the power units operated by the corporation.
