CGN Official Confirms Poland's Export Potential

With a Memorandum of Understanding signed, officials at the China General Nuclear Power Corp. confirmed that the company is targeting Poland as a potential market for nuclear power exports.

CGNCGN attaches substantial significance to the Polish nuclear power market and is willing to become a long-term strategic partner of the country,” the China Daily quoted CGN vice-president Shu Guogang as saying Wednesday.

Poland's Energy Ministry, which sent a delegation to China in early July, also confirmed the intentions to strengthen the ties between the two countries through nuclear power promotion.

The delegation toured both operating nuclear power plants and reactors under construction, as well as nuclear research facilities.

Asian utilities analyst Joseph Jacobelli at Bloomberg Intelligence was quoted as saying that Britain – specifically the Hinkley Point C project involving French utility EDF with help from Chinese financing -- was a “perfect springboard” for the Chinese nuclear power sector, affording them a substantial inroad into a potentially large export market.

"CGN's experience and financing capability and capacity means the company should be able to lock in one or more overseas deals in the next few quarters, despite the fact that whether the company can nail more deals in Eastern Europe is difficult to say at this stage because of the complex nature," said Jacobelli.

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