CLP Holdings To Invest 11.9B Yuan Into Yangjiang Nuclear Power...

CLP Holdings To Invest 11.9B Yuan Into Yangjiang Nuclear Power Station


* Wednesday 2011-07-27 15:35
* Publisher: CapitalVue

July 27 -- CLP Holdings (0002.HK) will cooperate with China Guangdong Nuclear Power Holding (CGN) on the construction of the Yangjiang nuclear power station, reports Hong Kong Commercial Daily, citing a company filing.

The station, located in the western part of Guangdong province, will require an investment of 780 billion yuan in total. CLP will invest 11.9 billion yuan for a 17 percent stake.

Construction had started in 2008. The station will have total power generation capacity of six GW. Power generation will start in phases during the period between 2013 and 17.

The power generated will be used to meet demand in Guangdong province.

CLP?s wholly-owned subsidiary, TRUenergy, had bought an equity stake in one of Australian?s largest natural gas supplier, Santos, for A$284 million on July 18.

CLP said the purchase will help TRUenergy to immediately obtain supplies of natural gas should the need arise, while sticking to its main business of selling electrical motors.

According to Fitch Ratings, CLP?s assets outside Hong Kong currently amount to 44 percent of its total assets.