New | China’s State Nuclear Power Technology to merge with China Power Investment Corp

State Nuclear Power Technology (SNPT), the transferee of advanced third-generation nuclear power technology from the United States’ Westinghouse, will be merged into China Power Investment Corp (CPI), one of the big five state-owned power generation groups.

The move would bolster CPI’s status as the nation’s third largest nuclear reactor operator, and fill its technology gap with more established state-owned rivals China National Nuclear Corp (CNNC) and China General Nuclear Power Group (CGN).

China Power International Development and China Power New Energy Development said in separate filings to Hong Kong’s stock exchange, that their ultimate parent CPI has told them that work has started for a consolidation and reorganisation between CPI and SNPT.

“CPI has ample funding sources and market access, while SNPT has advanced technology,” said a Hong Kong-based consultant familiar with the mainland’s power sector. “The merger would be a win-win.”

He said the fact that SNPT’s chairman Wang Binghua was CPI’s ex-general manager would have helped the merger talks. Wang was a deputy head of CNNC prior to heading CPI.

Set up in 2007, SNPT was one of 53 key state firms under direct administration by the central government. It was tasked to absorb power equipment major Westinghouse’s technology.

It acted as the engineering, procurement and construction general contractor for building AP1000 nuclear plants on the mainland.