Zheneng Electric Power to Take 7% Stake in New Cangnan Nuclear Venture, Explores Multi-Purpose Nuclear Applications

Stock News11-09 15:48

Zhejiang Zheneng Electric Power Co.,Ltd. (600023.SH) announced that it plans to join hands with China National Nuclear Power, Zhejiang Hengyi Group Co., Ltd. (hereafter "Hengyi Group"), Wenzhou Nuclear Energy Development Co., Ltd. (hereafter "Wenzhou Nuclear Energy"), and Ruian Jingou Technology Development Co., Ltd. (hereafter "Jingou Technology") to jointly fund and establish Cangnan Nuclear, which will develop, construct, and operate the Wenzhou Fenghuangshan Island nuclear energy project and explore multi-purpose utilization of nuclear energy.

The company will contribute RMB 24.5 million for a 7% equity stake in the new venture.

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