Pages

November 10, 2010

China Nuclear firms will list on stock exchanges and raise capital and rumor of new 2020 target of 117 GWe

China's three major nuclear power companies have all embarked on their listing plans as the country sees accelerated growth in the development of the clean energy. A senior research official at a conference in Beijing last week mentioned a new target of 117 112 GWe (gigawatts of electricity) from nuclear power for 2020. This is 21 GWe higher than even the highest 86 GWe old target. The official targets have been 8% of electricity for 2020 and 70-80 GWe.

UPDATE: China's national development and reform department said the 112 GWe 2020 target

Although the 8% target for China share of electricity from nuclear might calculate to 96-120 GWe based on 1400-1500 GWe of total electricity in 2020 China will have to continue to scale the nuclear construction supply chain.

Coal prices are expected to go up 12% next year. If that is a trend then China would hit the accelerator for even more nuclear reactor construction. China needs to have more staff and technical people trained.

The three major companies are China National Nuclear Corp (CNNC), China Guangdong Nuclear Power Group (CGNPG), and State Nuclear Power Technology Corp (SNPTC), China Business News reported Tuesday, citing unnamed sources.



The three companies have all discussed their listing plans with the authorities, said the report.

As the country's largest nuclear power plant operator, CNNC is making preparations to list its subsidiary, CNNC Nuclear Power Co Ltd, Chen Hua, assistant president of CNNC, told reporters in September.

The company plans to attract strategic investors by the end of this year, and expects to complete all the preparation work in the first half of next year, said Chen, who is also the president of CNNC Nuclear Power Co Ltd.

CNNC's rival CGNPG has decided to make a back-door listing, the report said, without giving details of any likely target.

The company is also planning to attract new strategic investors as part of its plan to launch an initial public offering (IPO), a source told China Daily earlier.

SNPTC, which is mainly involved in the development of third-generation nuclear power technology in China, plans to list its shares in the second quarter of 2012, Chairman Wang Binghua told Xinhua News Agency in May.

The company will increase its registered capital from 4 billion yuan ($597 million) to 10 billion yuan through a capital injection, and set up a financial services arm this year to enter the financial sector


If you liked this article, please give it a quick review on ycombinator, or Reddit, or StumbleUpon. Thanks

Featured articles

Ocean Floor Gold and Copper
   Ocean Floor Mining Company
blog comments powered by Disqus