CGN Power (01816) said the Group will dispose of its 17% equity interest in Yangjiang Nuclear Power to CLP Nuclear Power (Yangjiang) Limited, a wholly-owned subsidiary of CLP Holdings (00002), for Rmb5 billion.
Yangjiang Nuclear Power is primarily engaged in the business of constructing and operating the Yangjiang Nuclear Power Station. At present, Yangjiang Nuclear has 3 nuclear power generating units in commercial operation with a capacity of 1,086MW each and 3 nuclear power generating units under construction with a capacity of 1,086MW each.
Upon completion, CGN Power will directly and indirectly hold an aggregate of 61.2% beneficial ownership in Yangjiang Nuclear, which will remain as a subsidiary.
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