Key Takeaways:
- CGN Power's new Huizhou Unit 1 is ready for commercial operation.
- Total operating capacity increases by 1,202 MW to 33,040 MW.
- The addition brings the company's total operating nuclear units to 29.
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CGN Power adds 1,202 MW capacity with new Huizhou nuclear unit
CGN Power (01816.HK) announced Friday that its Huizhou Nuclear Power Unit 1 has completed all commissioning work and is ready for commercial operation, adding over a gigawatt of clean energy capacity to its portfolio. The move underscores China's ongoing expansion of its nuclear power infrastructure to meet decarbonization goals.
The announcement was made by the company in a filing to the Hong Kong Stock Exchange.
The new unit increases the total installed capacity of the company's operating units by 1,202 megawatts, rising from 31,838 MW to 33,040 MW. With the addition of the Huizhou unit, the number of nuclear power generating units under CGN's management in operation increases to 29.
For investors, the operational start of a new reactor directly translates to increased electricity generation and potential revenue growth for CGN Power. The expansion solidifies its role as a leading nuclear operator in China, a market peer to China National Nuclear Power (601985.SS), as the nation pursues aggressive carbon neutrality targets. The project's investment cost was not disclosed in the announcement.
This article is for informational purposes only and does not constitute investment advice.
