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CGN TO SET UP SOUTHEAST ASIA REGIONAL HEADQUARTERS IN KUALA LUMPUR

2016-04-13

Kuala Lumpur, April 12 -- The world's leading clean energy company, China General Nuclear Power Corporation (CGN), will set up its regional headquarters in Malaysia to be known as CGN South East Asia Company.

CGN President, Zhang Shanming said, CGN South East Asia will enhance the development and investment of clean energy in the region.

He made the announcement at the launching ceremony of "New Edra, A New Chapter"  here today.

The "New Edra, A New Chapter" event organized by CGN, saw the company make its first public appearance as the new shareholder of Edra, in Malaysia. Deputy Finance Minister Datuk Johari Abdul Ghani, Chief Minister of Melaka Datuk Seri Idris Haron, representatives from the Ministry of Energy, Green Technology and Water, Bank Negar and Energy Council of Malaysia attended the event.

Also present were China's ambassador to Malaysia Dr Huang Huikang, Egypt's ambassador to Malaysia Salah Mohi Eldin Elwassimy, other collaborating country envoys, corporate and Chinese investor representatives and more than 100 guests.

CGN is an international energy group which focuses on clean energy..

It has developed projects relating to solar energy, wind-power, biomass and gas all over the world, including in the United States, Australia, Singapore, South Korea, United Kingdom, France and several other countries.

Over 8 million kilowatts of wind power capacity were  installed, while the solar energy installed capacity has reached over 1.2 gigawatts.

As for the nuclear power, the installed capacity from ongoing projects and those under construction is expected to reach over 32.4 gigawatts.

On November 23, 2015, after the third round of the international bidding, CGN and Edra finally signed a share sale and purchase agreement.

The deal was completed on March 23, 2016; whereby CGN became the largest independent power producer in South Korea, Egypt and Bangladesh, which brings the company's overseas installed capacity to 8.85gigawatts.

According to reports, the new Board of Directors of Edra was established on March 23.

CGN has apoointed its representative, Lin Jian as the Chairman, while Edra's immediate Past President Dato' Mark Ling continues to serve as the new president.

The company will retain all existing staff of Edra in efforts to fully optimise their skills and resources.

Zhang said,“The Edra team has a wealth of management experience and professional quality, which has laid a solid foundation for the next phase of development.”

“Edra's human resource are the most important assets of the company, they are also a precious resource for the expanded CGN family with the inclusion of Edra,” he said.

Zhang also said that “CGN will uphold its principle of globalising its talent and  localising the labour force so as to create more employment opportunities for Malaysians and in efforts to help and sustain the country’s economic growth.”

He stressed that, CGN is deeply committed to strengthening cooperation with the local supply chain, taking fully into account local requirements and contributions to the local economy.

He cited how the CGN Husab Uranium Mine Project in Namibia was expected to boost the Namibian GDP by 5%, and boost exports by 20% when begin to mine this year. The local staff accounted for 87 % while the international staffs stood at 6%.

Edra only contributed to 14% of the total domestic generation capacity. As a result, Zhang said that it is the duty of the new Edra and a top priority of  Edra’s management to ensure safe and stable power supply.

With Malaysia being a notable diversified emerging industrial country in Asia and an emerging economy  in the world, CGN is optimistic about  the future development of power supply in the country. It is because of this that CGN decided to set up its South East Asia regional headquarters in Kuala Lumpur, and in the process continue its collaboration with countries in the region.