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China's CGN a major player in global clean energy markets

By Zheng Xin | | Updated: 2018-04-09 22:57
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China General Nuclear Power Corporation’s first photovoltaic power project in Malaysia, for which construction started last month, is expected to be operational in March 2019, said He Yu, chairman of CGN, who spoke during the Boao Forum for Asia annual conference on Monday.

In addition to that solar power project, the company will focus on the development of clean energy abroad, especially in countries and regions covered by the Belt and Road Initiative, he said.

The nuclear giant took over Malaysian energy company Edra Global Energy in 2015 and became the biggest foreign direct investor and the second-biggest independent power producer in Malaysia.

The purchase has given CGN 13 clean-energy projects in five countries participating in the Belt and Road Initiative, namely Malaysia, Egypt, Bangladesh, the United Arab Emirates, and Pakistan, as well as potential to explore clean energy in other countries and regions, he said.

The international business portfolio of CGN has spread to more than 20 countries, with overseas assets accounting for 16 percent of the company’s total assets and revenue from overseas markets accounting for 20 percent.

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