Hong Kong's China Light and Power Holdings Ltd. announced that its subsidiary, CLP Nuclear Investment Company Ltd., has reached an agreement with the China Guangdong Nuclear Power Company Ltd. to invest in its Yangjiang Nuclear Power Station Project in western Guangdong province, purchasing a 17 percent share in the nuclear power plant for $11 billion.
The facility's electrical production is 6,000 megawatts, the company announced Tuesday. China's relentless search for energy sources to sustain its booming economy is actively promoting alternative energy sources such as nuclear.
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