China General Nuclear Power Corporation (CGN) has international business covering more than 20 countries all over the world and the overseas revenue has accounted for 20 percent of the company’s total, said its Chairman He Yu on April 9.
The corporation’s overseas assets account for 16 percent of its total and employs about 3,000 employees abroad, according to He, who shared the company’s achievements at a CEO Roundtable themed “Energy and Resources: The New “Silk” on the Belt & Road” at the Boao Forum for Asia Annual Conference 2018 held in Boao, Hainan province.
CGN has been actively participating in the Belt and Road Initiative and has made outstanding achievements in overseas business, setting “eight records” among domestic peers in going global -- the largest investment projects in the UK and Europe (UK’s nuclear power projects), and in Africa (Husab Uranium Project), the largest foreign direct investor in Malaysia, the largest Chinese company to invest in Ireland, the largest independent power producer in Bangladesh and Egypt, and the largest onshore wind farm in Belgium.
HPR1000, China’s calling card
As a calling card of China, nuclear power is on par with high-speed rail, representing the country’s core competitiveness. And it has experienced dramatic changes since arriving in China from France in 1978.
China's homegrown third generation nuclear technology, Hualong One (HPR1000), developed through joint efforts of CGN and China National Nuclear Corporation, has been in the spotlight of Chinese nuclear power development. It has even become synonymous with Chinese nuclear power.
Currently, CGN is competent to compete with global nuclear giants as the largest nuclear power operator in China and third largest worldwide, as well as the largest nuclear power constructor globally.
CGN signed a suite of agreements for the Hinkley Point C (HPC), Sizewell C (SZC) and Bradwell B (BRB) projects with Electricite de France (EDF) and the UK government on Sept 29, 2016, making a historic breakthrough in the going-global of China’s nuclear power.
The CGN-led BRB project proposes to use the HPR1000 reactor.
“At present, the HPC project is entering the implementation phase, while the BRB project has launched siting exploration,” said He, adding that the deployment of the HPR1000 in the UK will boost Chinese nuclear industry to a higher level and help build up advanced manufacturing capacity.
Export of one HPR1000 reactor involves more than 5,400 Chinese enterprises and the contract amount from the industrial chain equals that of export of 200 middle-sized commercial passenger planes. It is of great importance in raising the profile of “Made in China” and "Intellectually Manufactured in China".
CGN overseas new energy exceeds 10 GW
Through taking nuclear power global CGN has made great achievements in new energy projects and its total installed overseas capacity of new energy has reached 10 GW, topping its domestic peers.
CGN acquired Malaysian energy company Edra Global Energy and its 13 clean energy projects in Malaysia, Egypt, Bangladesh, Pakistan and the United Arab Emirates in November 2015.
The deal enabled the state company to become the largest foreign investor and the second largest independent power producer in Malaysia.
Moreover, CGN has obtained new clean energy project development right in the countries along the Belt and Road which amounts to 10 GW.
On Jan 1, 2018, CGN’s 2.24-GW Malaysian project commenced construction, to be equipped with the cutting-edge and efficient “H-class” combined cycle gas turbines. In addition, the company’s first photovoltaic project in the Southeast Asian country with an installed capacity of 50,000 kW began construction and is projected to be put into operation next March.
“It displays again CGN’s confidence and strength in developing new energy projects along the Belt and Road,” said the chairman.
Husab project to hit target output
Nuclear fuel forms the basis for nuclear power development. Remarkable results have been achieved in CGN’s overseas exploration of uranium resources, a positive response to the national call.
The jointly built nuclear fuel assembly plant between CGN and Kazakhstan's Kazatomprom is expected to finish construction by the end of 2020, which will bring China at least 40,000 tons of metallic uranium reserve.
The Husab project in Namibia has recorded steadily increasing production since 2016 and will hit the target of an annual output of 6,500 tons this year. As the world’s second largest producer of natural uranium, it is capable of supplying uranium fuel for 30 gigawatt-level units over 30 years.
The project has injected vitality into local economic growth and is viewed as a model for Sino-African cooperation.
CGN is committed to developing into a first-class clean energy producer and continues to augment investment in this field, contributing to the drive of global low-carbon and clean energy development, He said.