CLP Signs Agreement of Cooperation Intent to Invest in Yangjiang Nuclear Power Station in Guangdong

CLP Holdings Limited (CLP) signs an agreement of cooperation intent with China Guangdong Nuclear Power Company (CGNPC) and Guangdong Yudean Group Co., Ltd. today to coinvest in Yangjiang Nuclear Power Station in Guangdong, China. Under the agreement, CLP will own 17% of the project. An additional partner in the project will include CGN Phase I Private Equity Fund Co., Ltd.

Located on the coast of Guangdong, approximately 220 kilometres west of Hong Kong, the 6,000 MW Yangjiang Nuclear Power Station (with six 1,000 MW pressurised water reactor units) will supply electricity to meet local demand in Guangdong Province. The construction of the station commenced in 2008, and the project is expected to be commissioned in phases between 2013 and 2017.

“The Yangjiang project reinforces CLP’s ongoing commitment towards low carbon generation to meet the interim target of increasing our non-carbon-emitting generating capacity to 20% by 2020, as set out in our Climate Vision 2050. This investment also supports the Central Government’s announcement to cut 40% to 45% of carbon dioxide emissions per unit of GDP in China by 2020 from its 2005 level, whilst contributing to the sustainable development of the Pearl River Delta region,” said Mr Chan Siu Hung, Director of CLP Nuclear Investment Company Limited, a wholly owned subsidiary of CLP Holdings.

“We are pleased to work closely with CGNPC – our longtime partner in the Daya Bay Nuclear Power Station,” Mr Chan added. “This agreement marks another important milestone in our collaboration on clean power generation in the Mainland.”

CLP started its joint venture partnership with CGNPC to develop China’s first commercial nuclear power station – Daya Bay Nuclear Power Station in 1985, providing reliable, safe and clean energy for the people of Hong Kong and Guangdong.

About CLP

CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange, is the holding company for the CLP Group, which is one of the largest investor-owned power businesses in Asia Pacific. Through CLP Power Hong Kong, it operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to 5.7 million people in Kowloon and the New Territories.

Outside Hong Kong, CLP holds a diversified portfolio of power generation investments that includes gas, coal, renewable and nuclear in the Chinese Mainland, Australia, India and Southeast Asia.

CLP is listed in the Global Dow – a 150-stock index of the world’s leading blue-chips, the Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific), and the Dow Jones Sustainability Asia Pacific 40 Index (DJSI Asia Pacific 40).

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