On the occasion of the official visit to China of French Prime Minister François Fillon, Henri Proglio, Chairman and CEO of EDF and Qian Zhimin, Chairman of electricity generator GCNPC (China Guangdong Nuclear Power Company) received final approval from the Chinese authorities for the creation of a joint venture (TNPJVC: Guangdong Taishan Nuclear Power Joint Venture Company Limited), whose purpose is to build and operate two EPR nuclear reactors in Taishan (in the Province of Guangdong), with EDF's holding fixed at 30% for 50 years.
The first unit of Taishan nuclear plant, modelled on the EPR currently under construction at Flamanville in Normandy, is scheduled for commissioning in late 2013.
The signing of the joint venture marks a major step forward in the cooperation between EDF and CGNPC, a cooperation which started 25 years ago with the construction and operation of power plants at Daya Bay and Ling Ao. This development makes EDF an investor for the first time in nuclear generation in China, an energy market which is currently seeing rapid growth.