How Does CGN Power Company Work?

As of December 31, 2024, CGN Power managed 28 in-service nuclear power units and had 16 units under construction, underscoring its significant role in nuclear energy provision. This integrated approach ensures adherence to stringent international nuclear safety standards.

The company continuously enhances operational efficiency, with initiatives like optimizing refueling outage management contributing to a 9.25% year-on-year increase in power generation for Q1 2025, reaching approximately 60,174 GWh.

CGN Power leverages an integrated industrial chain for effective management of complex projects and supply chains. Key partnerships, such as those with China Energy Engineering Corp Ltd and Norinco International Cooperation Ltd, support overseas clean energy projects.

A distinctive aspect of CGN Power's operations is its commitment to technological self-reliance, particularly through its involvement with the indigenous Hualong One reactor technology. This provides customers with a stable, low-carbon baseload power supply.

In 2024, CGN Power achieved critical operational advancements, including the commencement of commercial operation for Fangchenggang Unit 4 in May. Full-scale construction for Ningde Unit 5 began in July 2024, progressing to its civil construction phase.

The company secured vital regulatory approvals in August 2024 for Zhaoyuan Unit 1 and Unit 2, Lufeng Unit 1 and Unit 2, and Cangnan Unit 3 and Unit 4. CGN Power also made strategic international inroads in Laos, South Africa, and Thailand, launching its first large-scale solar photovoltaic project in Laos.

CGN Power's competitive edge is built upon its strong brand recognition and technological leadership, particularly in third-generation nuclear reactor designs like Hualong One. Its position as China's largest nuclear power operator provides significant economies of scale.

The company's substantial investment in research and development, totaling RMB 5.95 billion in 2024, enhances its ability to adapt to evolving energy trends and technological advancements. This commitment supports its integrated industrial chain and overall business strategy.

CGN Power is the largest domestic nuclear power operator in China, controlling more than 50% of the market. As of the end of 2024, it managed 28 operational nuclear units and had 16 units under construction, playing a vital role in China's energy security.

The company's customer loyalty is deeply rooted in the long-term, regulated nature of nuclear power and its essential contribution to national energy security. CGN Power has also expanded its operations globally, with clean energy projects in 16 countries, exceeding 14 million kilowatts in installed capacity.

Key risks include potential regulatory shifts, though current Chinese policy strongly favors nuclear expansion for carbon neutrality goals. The inherent complexities of nuclear technology and public perception also present challenges. Competition from domestic entities like China National Nuclear Corporation (CNNC) is also a factor to consider when understanding the Competitors Landscape of CGN Power.

CGN Power's strategy focuses on the safe development of nuclear projects, accelerating approvals, and expanding plant sites to increase capacity. The company aims to boost generation capacity, optimize refueling outages, and enhance equipment management for greater reliability.