CGN Power
Corporate brand
UnclaimedA major Chinese nuclear-power generation company and the listed power-generation platform of China General Nuclear Power Corporation.
Last updated October 9, 2026
Overview
CGN Power is a Chinese nuclear-power generation company headquartered in Shenzhen and listed on the Hong Kong Stock Exchange under ticker 1816.HK. It is the principal listed operating platform of China General Nuclear Power Corporation, one of China's major state-owned nuclear-energy groups. The company develops, owns, operates and manages nuclear power stations, with its business concentrated in mainland China. The company's operating history is rooted in the development of the Daya Bay nuclear power complex in Guangdong. Daya Bay was China's first large commercial nuclear power project and established the operating base from which the broader China General Nuclear group developed. CGN Power's portfolio subsequently expanded through projects at Ling Ao, Yangjiang, Ningde, Fangchenggang, Taishan and other sites. Its generation fleet has included pressurized-water reactor designs based on both imported technologies and domestically developed Chinese technology, including the CPR-1000 and the newer Hualong One design. CGN Power was incorporated as a dedicated power-generation company in 2014 and completed its Hong Kong initial public offering in December of that year. The listing gave public-market investors exposure to China's expanding nuclear-generation sector while leaving China General Nuclear Power Corporation as the controlling shareholder. The company has used the proceeds and its corporate platform to support the construction, commissioning and operation of a growing fleet of reactors. Its core activities include nuclear electricity generation, operation and maintenance of nuclear generating units, development of nuclear power projects, and associated technical and management services. Nuclear power is the defining activity; unlike an oil-and-gas company, CGN Power's principal assets are nuclear plants and related electricity-generation infrastructure. The company sells electricity primarily into China's regulated and partially market-based power system, with plant economics affected by approved tariffs, dispatch arrangements, utilization levels, construction costs, fuel costs and regulatory requirements. A significant turning point was the commissioning of the first two units at Taishan. Taishan Unit 1 became the first EPR reactor to enter commercial operation, while Unit 2 followed later. In 2021, reports concerning elevated fuel-rod damage and radioactive-gas levels at Taishan Unit 1 drew international attention and led to a temporary shutdown and investigation. The episode became one of the most visible operational controversies associated with the company, although it did not end CGN Power's broader expansion program. CGN Power remains focused primarily on mainland Chinese nuclear generation. Its position is based on the scale of its reactor fleet, long operating experience, access to the wider China General Nuclear group, and participation in China's long-term low-carbon electricity strategy. The company is strategically important within China's power sector but operates in a tightly regulated industry in which safety oversight, project approvals, construction execution, public acceptance and grid economics are central to performance.
History
CGN Power's history is closely connected with the development of commercial nuclear power in southern China. Its institutional predecessor and controlling group were involved in the Daya Bay project in Guangdong, which was developed with international participation and began commercial operation in the 1990s. Daya Bay established a substantial operating and engineering base for what became China General Nuclear Power Corporation and provided experience in nuclear construction, plant operation, fuel management and regulatory compliance. The group later expanded at the adjacent Ling Ao site and into a wider portfolio of Chinese nuclear projects. This expansion reflected China's effort to increase reliable baseload generation while limiting the carbon intensity and local air pollution associated with coal-fired electricity. CGN's projects included conventional pressurized-water reactors based on imported and localized designs, followed by the CPR-1000 and other domestically adapted technologies. CGN Power became the dedicated listed generation company through incorporation in 2014 and its Hong Kong listing in December 2014. After the listing, the company continued to build its operating base through projects in Guangdong, Fujian, Guangxi, Zhejiang and other provinces. Important sites included Yangjiang in Guangdong, Ningde in Fujian, Fangchenggang in Guangxi and Taishan in Guangdong. The fleet gave CGN Power a geographically distributed presence in China's coastal electricity markets, where nuclear projects can provide large volumes of steady generation close to major industrial and population centers. Taishan was a particularly important chapter. The plant used the EPR design developed by Framatome and EDF, and CGN Power was a major Chinese participant in the project. Taishan Unit 1 entered commercial operation in 2018 and Unit 2 in 2019. Unit 1's commissioning made it the first EPR reactor in the world to achieve commercial operation, although the project also experienced the schedule, construction and technical challenges that affected other first-of-a-kind EPR developments. In 2021, the Taishan project became the subject of international controversy after reports of increased concentrations of radioactive noble gases and fuel-rod damage in Unit 1's reactor core. The relevant authorities and operators described the situation as within permitted safety limits at points during the episode, while external reporting and governmental reviews focused on the significance of the fuel damage, information disclosure and the decision to continue operating for a period. Unit 1 was later shut down for inspection and maintenance, including fuel replacement, and subsequently returned to operation. The event remains part of CGN Power's public operating history and illustrates the reputational sensitivity of nuclear generation. In parallel with operating existing units, CGN Power has participated in China's adoption of the Hualong One reactor design, a domestically developed pressurized-water reactor associated with the country's nuclear-industrial strategy. The company has continued to pursue new units and higher utilization of its fleet under China's broader program for nuclear expansion and low-carbon electricity. Its corporate role combines asset ownership, plant operation, project development and technical management, while major strategic and policy decisions remain connected to its state-owned parent group. Today, CGN Power is primarily a mainland Chinese nuclear-power operator. Its competitive position rests on a large installed base, accumulated operating experience, access to the engineering and supply-chain capabilities of China General Nuclear Power Corporation, and participation in a sector supported by China's long-term energy and emissions objectives. Its main constraints are equally structural: nuclear safety and public confidence, lengthy construction cycles, capital requirements, regulatory approvals, electricity-pricing rules, grid dispatch and the technical complexity of maintaining a large reactor fleet.
- 2022
Taishan Unit 1 returned to operation
[2]After inspection, maintenance and fuel replacement, Taishan Unit 1 resumed commercial operation.
- 2021
Taishan fuel-rod issue became public
[2]Reports concerning fuel-rod damage and elevated noble-gas readings at Taishan Unit 1 generated international scrutiny and regulatory attention.
- 2019
Taishan Unit 2 began commercial operation
[2]The second Taishan EPR unit entered commercial operation, expanding the company's exposure to the reactor design.
- 2018
Taishan Unit 1 began commercial operation
[2]Taishan Unit 1 became the first EPR reactor to enter commercial operation.
- 2014
CGN Power was incorporated
[1]CGN Power was established as a dedicated nuclear-power generation company within the China General Nuclear group.
- 2014
Hong Kong listing
[1]The company completed its initial public offering and began trading on the Hong Kong Stock Exchange under ticker 1816.HK.
- 1994
Daya Bay entered commercial operation
[3]The Daya Bay nuclear power project began commercial operation and became the foundation of the operating platform from which the China General Nuclear group expanded.
Products and positioning
A large, state-controlled Chinese nuclear-power producer and the listed generation platform of China General Nuclear Power Corporation.
Electricity generation
Nuclear electricity generation
CGN Power's central business is the generation and sale of electricity from commercial nuclear reactors. Its fleet supplies baseload and other scheduled power to China's electricity system, with revenue affected by approved tariffs, market-based transactions, plant availability, utilization and grid dispatch. The company operates reactors at multiple coastal sites and uses both established pressurized-water reactor technologies and newer Chinese designs.
Nuclear services
Nuclear power plant operation and maintenance
The company provides the operational management required to run nuclear generating units over long asset lives. Activities include reactor and turbine operations, maintenance planning, outage management, safety and quality systems, fuel-cycle coordination, radiation protection, emergency preparedness and compliance with Chinese nuclear regulators. These capabilities are also used across the wider China General Nuclear group.
Nuclear reactor generation
Hualong One nuclear generation
CGN Power participates in the deployment of Hualong One, a Chinese pressurized-water reactor design developed through the country's nuclear engineering program. Hualong One units form part of the industry's move toward standardized domestic technology and are intended to support new nuclear capacity in China under modern safety and regulatory requirements.
Nuclear power station · 2018
Taishan nuclear power generation
The Taishan project in Guangdong uses two EPR units and is one of CGN Power's most internationally prominent assets. Taishan Unit 1 was the first EPR reactor to enter commercial operation, while the project later attracted scrutiny over fuel-rod damage and noble-gas readings. The units are part of the company's broader commercial generation portfolio.
Controversies
2021
Taishan Unit 1 fuel-rod damage and disclosure controversy
Reports in 2021 described increased noble-gas concentrations and damaged fuel rods at Taishan Unit 1. The issue prompted international media attention and regulatory review, with debate over whether the reactor should continue operating, how the condition was characterized, and how information was communicated. The unit was later taken offline for inspection and fuel replacement before resuming operation.
Brand decisions
2021
Investigate and shut down Taishan Unit 1OtherBackground
Fuel-rod damage and elevated noble-gas readings generated regulatory and public concern about the unit's operating condition.
Action taken
The unit was taken offline for inspection and maintenance, including work associated with fuel replacement.
Aftermath
Taishan Unit 1 later returned to operation, but the episode remained a significant reputational and operational event for CGN Power.
2018
Commercial launch of Taishan Unit 1Product launchBackground
The Taishan project was intended to demonstrate commercial operation of the EPR design in China.
Action taken
Taishan Unit 1 entered commercial operation.
Aftermath
The unit became the first commercially operating EPR reactor, while later fuel issues created additional operational and reputational scrutiny.
2014
Create a listed nuclear-generation platformStrategyBackground
China General Nuclear sought a public-market vehicle for its nuclear electricity assets and a mechanism to support the sector's continuing expansion.
Action taken
CGN Power was incorporated and subsequently listed in Hong Kong, with China General Nuclear Power Corporation retaining control.
Aftermath
The transaction established CGN Power as the group's principal listed operating platform and provided access to public equity capital.
Recent events
- 2022
Taishan Unit 1 resumed commercial operation after inspection[2]
Product generation · Regulation
Following inspections and fuel replacement work related to the 2021 fuel-rod issue, Taishan Unit 1 returned to commercial operation.
- 2018
Taishan Unit 1 entered commercial operation[2]
Product launch · Product generation
The first unit at Taishan became the first European Pressurized Reactor to enter commercial operation, marking a significant milestone for the reactor design and CGN's project portfolio.
- 2014
CGN Power completed its Hong Kong initial public offering[1]
Other
CGN Power listed on the Hong Kong Stock Exchange, creating a public-market vehicle for China General Nuclear Power Corporation's nuclear-generation assets.
Sources4 sources
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