CGN forms joint venture with six partners for Lufeng nuclear units 3 and 4
China General Nuclear Power Group (CGN) announced on September 24 it will establish a joint venture, CGN Yueshan (Lufeng) Nuclear Power Co., Ltd., with six partners to develop, construct, and operate the Lufeng Units 3 and 4 nuclear power projects. CGN will contribute 70 million yuan for a 70% stake in the 100 million yuan registered capital. The move aims to advance the project toward national approval.
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CGN Power to invest 70 million yuan in joint venture for Lufeng nuclear power units 3 and 4
CGN Power Co., Ltd. (stock code: 01816) announced on September 24, 2026, that its board has approved an equity cooperation investment agreement with China First Heavy Industries, Lufeng Investment Control, Mingyang Group, Jiuli Group, Jiuli Special Materials, and CATL Zhaoqing Company. The parties will jointly establish a venture company named Yueshan Nuclear Power to develop, construct, and operate the Lufeng Units 3 and 4 nuclear power projects. The initial registered capital of Yueshan Nuclear Power is 1 billion yuan, with CGN Power contributing 70 million yuan in cash for a 70% stake, and the other parties contributing a combined 30 million yuan for a 30% stake. CGN Power stated the investment aligns with its development strategy and will help advance the project's national approval. The total investment for the Lufeng 3 and 4 units is preliminarily estimated at approximately 38 billion yuan, subject to final approval and cost determination. The 70 million yuan cash contribution is considered controllable and not expected to materially impact the company's financial condition. Yueshan Nuclear Power will become a non-wholly-owned subsidiary of CGN Power, with its financial results consolidated into the group's accounts.
Read sourceChina General Nuclear to Invest 70 Million Yuan in Joint Venture for Lufeng Nuclear Units
China General Nuclear Power Group (CGN) announced on September 24 that it plans to sign an equity cooperation investment agreement with several partners to establish a joint venture company, tentatively named CGN Yueshan (Lufeng) Nuclear Power Co., Ltd. The joint venture will develop, construct, and operate the Lufeng 3 and 4 nuclear power units. The initial registered capital of the joint venture is set at 100 million yuan, with CGN contributing 70 million yuan for a 70% stake. Other partners include China First Heavy Industries, Lufeng City Investment Holding Co., Ltd., Mingyang Smart Energy Group, Jiuli Group, Zhejiang Jiuli Special Materials Technology Co., Ltd., and Contemporary Amperex Technology (Zhaoqing) New Energy Technology Co., Ltd. The announcement was made via a filing to the Shenzhen Stock Exchange.
Read sourceChina General Nuclear Power to Form Joint Venture for Lufeng Nuclear Reactor Projects
China General Nuclear Power Group (CGN) announced on September 24 that it has signed an agreement with six partners, including China First Heavy Industries, Lufeng City Investment Holding, Mingyang Smart Energy, Jiuli Group, Jiuli Special Materials, and CATL (Zhaoqing) New Energy Technology, to jointly establish a new company called CGN Yueshan (Lufeng) Nuclear Power Co., Ltd. The joint venture will be responsible for the development, construction, and operation of the Lufeng Units 3 and 4 nuclear power projects. The initial registered capital of the joint venture is 100 million yuan, with CGN contributing 70 million yuan for a 70% stake. CGN stated that this investment aligns with its overall development strategy and will help advance the Lufeng 3 and 4 projects toward national approval. The company expects the move to increase its installed nuclear capacity under construction and strengthen its competitive position in the industry.
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China General Nuclear to form joint venture for Lufeng nuclear power units 3 and 4
China General Nuclear Power Group (CGN) announced on September 24 that it has signed an agreement with China First Heavy Industries, Lufeng Investment Holding, Mingyang Smart Energy, Jiuli Group, Jiuli Special Materials, and CATL (Zhaoqing) New Energy Technology to jointly establish a subsidiary called CGN Yueshan (Lufeng) Nuclear Power Co., Ltd. The new company will be responsible for the development, construction, and operation of the Lufeng Units 3 and 4 nuclear power projects. The initial registered capital of the joint venture is 100 million yuan, with CGN contributing 70 million yuan for a 70% stake. According to the company, this investment aligns with its overall development strategy and is expected to facilitate the submission of the Lufeng Units 3 and 4 project for national approval. If approved, the project could further increase CGN's total installed capacity of nuclear power units under construction, thereby enhancing its competitiveness in the industry.
Read sourceChina General Nuclear to Form Joint Venture for Lufeng Nuclear Power Units 3 and 4
China General Nuclear Power Corp (CGN) announced on September 24 that it will establish a joint venture company, CGN Yueshan (Lufeng) Nuclear Power Co., Ltd., to develop, construct, and operate the Lufeng Units 3 and 4 nuclear power projects. The joint venture partners include China First Heavy Industries, Lufeng City Investment Holding, Mingyang Smart Energy, Jiuli Group, Jiuli Special Materials, and CATL (Zhaoqing) New Energy Technology. CGN will contribute 70 million yuan for a 70% stake in the initial 100 million yuan registered capital. The company stated that this investment aligns with its overall development strategy and is expected to facilitate the project's application for national approval, potentially increasing CGN's在建 (under-construction) nuclear power capacity and enhancing its industry competitiveness.
Read sourceChina General Nuclear Power to Form Joint Venture for Lufeng Nuclear Units 3 and 4
China General Nuclear Power Group (CGN), listed as 003816.SZ, announced on September 24 that it will establish a joint venture company to develop, construct, and operate the Lufeng Units 3 and 4 nuclear power project. The joint venture, to be named CGN Yueshan (Lufeng) Nuclear Power Co., Ltd., will have an initial registered capital of 100 million yuan. CGN will contribute 70 million yuan for a 70% stake. Other partners include China First Heavy Industries, Lufeng City Investment Holding, Mingyang Smart Energy, Jiuli Group, Jiuli Special Materials, and CATL (Zhaoqing) New Energy Technology. CGN stated that the investment aligns with its overall development strategy and will help advance the project's application for national approval, potentially increasing its在建 nuclear capacity and enhancing its competitive position in the industry.
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