China’s largest nuclear power developer eyes wind and gas projects in addition to maiden venture in UK
CGN has stakes in UK’s Hinkley Point C, Sizewell C and Bradwell B nuclear plant projects
China General Nuclear Power Group (CGN), a key implementer of Beijing’s Belt and Road Initiative, is seeking non-nuclear, clean energy project opportunities in Britain, even as it works to keep its maiden nuclear project in the country on time and within budget while pushing ahead with preparatory work on two others, according to the chief executive of its UK unit.
The Shenzhen-based state-owned company, China’s largest and the third-largest nuclear power projects operator globally, wants to invest in Britain’s natural gas and wind power projects, said General Nuclear International chief executive Zheng Dongshan.
In the UK, we aim to become an important and reliable developer, operator and builder of clean energy projects
“In the UK, we aim to become an important and reliable developer, operator and builder of clean energy projects,” Zheng said in London, adding that it would not be inconceivable for CGN to one day reach the current operating scale of EDF Energy, the UK’s largest power generator.
To meet its clean energy goals, Britain has been gradually decommissioning old nuclear reactors and shutting down coal-fired plants, which opens up opportunities for the development of new clean energy projects.
According to a forecast by the Department for Business, Energy and Industrial Strategy, the UK’s nuclear power output will almost double by 2035 from last year, and that of renewable power by about two-thirds. No power will be produced from coal by 2026, while that produced from natural gas will fall by two-thirds.
