AI Summary
China General Nuclear Power Corp. (CGN) and China National Nuclear Corp. (CNNC) announced a joint venture to export China’s third-generation nuclear reactors globally.
The joint venture, Hualong International Nuclear Power Technology Co., will have both companies develop and export the indigenous Hualong One reactor overseas, according to Bloomberg. The chairman is Zou Yongping from CGN, and the general manager is Xu Pengfei from CNNC. The companies will have equal representation on the board.
Both companies signed a framework agreement in December to merge their Hualong One reactor designs and market it overseas. China approved construction of six of the reactors in the country, and may plan to build one in England at the Bradwell plant.
