Zhejiang Zheneng Electric Power Co., Ltd announced that its subsidiary –Zheneng Nuclear Energy Co., Ltd (“ZNE”) is planning to incorporate the State Nuclear Power Technology Co., Ltd (“SNPTC”) as its new shareholder. SNPTC will contribute to 50 million RMB (USD 7,22 Million) to the registered capital.
After the capital increase, they will change the name of ZNE to the “State Nuclear-Zheneng Nuclear Energy Co., Ltd” with 50:50 shares respectively owned by Zhejiang Zheneng Electric and SNPTC.
This joint venture is considered as a project company which is aimed to develop the island nuclear power project as well as the small heating reactors in islands.
Zhejiang Zheneng Electric has already had the early research achievements in exploring the island plant site resources, while SNPTC has extensive experience in the nuclear construction, management, operation etc, both sides agreed to launch their cooperation immediately once the agreement is finally inked.
