Bangkok – China General Nuclear Power Corporation (“CGN”), a leading Chinese clean energy developer and service provider, officially announced its joint venture with Ratchaburi Electricity Generating Holding Public Company Limited (“RATCH”) on Phase II of the 2,360-MW Fanchenggang nuclear power plant in the People’s Republic of China.

Guangxi Fangchenggang Nuclear Power (II) Company Limited is a joint entity, where CGN, Guangxi Investment Group Company Limited (“GIG”), and RATCH jointly hold equity stakes of 51%, 39%, and 10% respectively. The three parties signed a shareholding agreement on December 25, 2015. The joint-venture company will handle development, construction, and operation of the Fangchenggang Nuclear Power Project, Phase II.

In partnership with RATCH, CGN will pursue clean energy development in Thailand, as well as other potential markets.

Mr. Hu Wenquan, CGN Assistant President, and Chairman of Fangchenggang Nuclear Power Company Limited, said that the Fangchenggang Nuclear Power Plant Phase II, co-invested by RATCH, is the reference project of HPR1000 technology.The HPR1000 technology is the third generation nuclear power technology with Chinese intellectual property rights. Its safety features match up with the internationally recognized third generation nuclear power technology, and is one of the most competitive technology worldwide. RATCH is a well-recognized energy company in Southeast Asia.  Following the cooperation on Fangchenggang Nuclear Power Plant Phase II, we look forward for further discussions with RATCH for more cooperation with mutual benefits.

Mr. Rum Herabat, RATCH Chief Executive Officer, revealed that he is very pleased with the success of the joint venture. Stakeholders recognize CGN as a leading player in the clean energy business, both in China and internationally. Collaborating with CGN is a good start for RATCH in terms of developing experience and learning about nuclear power technologies, which many view as a potential alternative energy source for the future. CGN will provide training and technical expertise to Thai technicians. They will also share knowledge of low-carbon management, enabling RATCH to further develop and grow its clean energy business.

“Partnering with CGN is a great chance for RATCH to learn from CGN’s clean energy expertise. Stakeholders worldwide laud CGN following the completion of its recent mega-project, Phase I of the Fangchenggang nuclear power plant. We look forward to further cooperation in the

clean energy business, which is mutually beneficial for both Thailand and China, and we will welcome opportunities with other counties when they arise. According to our renewable and clean energy business plan, we focus on hydropower, solar power, wind power, biomass and refuse-derived energy, as well as nuclear power. We are currently developing several solar farms, wind farms, hydropower and biomass projects, and are conducting feasibility studies. RATCH is firmly committed to strengthening our mutually beneficial and sustainable partnership with CGN,” said Mr. Rum.

RATCH aims to have clean and renewable energy of no less than 10% of its total equity capacity. RATCH currently has capacity for 727 megawatts of clean and renewable energy, representing 11% of total equity capacity. When including natural gas as a clean fuel, the proportion increases to 89%, equivalent to 6,059 megawatts.