China and France have created the Taishan Nuclear Power Joint Venture Company which is stated to be the largest clean energy JV ever set up between China and France and will also be the largest Sino-foreign joint venture in the power sector of China.
The JV was established by the China Guangdong Nuclear Power Group and Electricite de France with a total registered capital of CNY16.74 billion. CGNPG has a 70% stake in the JV, and EF owns the rest of the equity.
With national-level approval in China, the JV will be responsible for fundraising, construction, operation, and management of the first phase of Taishan Nuclear Power Plant.
It is understood that the first phase of Taishan Nuclear Power Plant will use European pressurized water reactor technology to build two generating units with a stand-alone capacity of 1.75 gigawatts, which are said to be the largest of their kind in the world. The two units are expected to go into commercial operation in late 2013 and October 2014.
The construction of Taishan Nuclear Power Plant started on September 1, 2009.
