Huaneng Power to Invest 315 Million yuan in Shidaowan Nuclear Capital Increase

MT Newswires Live11-12 19:24

Huaneng Power International (HKG:0902) will contribute 315 million yuan as part of a 1.40 billion yuan capital increase by Shidaowan Nuclear's five shareholders to fund construction of two nuclear power units in Shandong province.

The capital increase will fund Phase I of the expansion of the Huaneng Shandong Shidaowan Nuclear Power Station, which comprises two 1,200-MW Hualong One reactors, according to a Thursday Hong Kong bourse filing. The units are scheduled to begin generating power in July 2029 and May 2030, respectively.

The five shareholders will contribute in proportion to their existing stakes, leaving Huaneng Power's interest unchanged at 22.5%. Huaneng Power will fund its contribution from internal resources. The total investment in the expansion project is estimated at 45.2 billion yuan.

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