Zhejiang Zheneng Electric Power (600023.SH) plans to invest in the Zhejiang San'ao Nuclear Power Phase III project as a minority shareholder.

Zhejiang Zheneng Electric Power (600023.SH) has announced that the company plans to form a project company, CGN Cangnan Third Nuclear Power Co., Ltd. ("Cangsan Company"), together with CGN POWER and other parties to invest in the construction of the Zhejiang San'ao Nuclear Power Phase III project, in which the company will hold a 7% equity interest in Cangsan Company. The initial registered capital of Cangsan Company is RMB 50 million, with each shareholder contributing according to the above equity ratios, of which Zhejiang Zheneng Electric Power's first-phase contribution shall be RMB 3.5 million. The Zhejiang San'ao Nuclear Power Plant is located in San'ao Village, Xiaguan Town, Cangnan County, Wenzhou City, Zhejiang Province, with a planned capacity of six million-kilowatt-class pressurized water reactor nuclear power units, planned in one phase and constructed in stages. Cangsan Company is the Phase III project company, responsible for the construction of Units 5 and 6, and is currently in the pre-approval preparation stage. The company's equity investment in the construction of the Zhejiang San'ao Nuclear Power Phase III project is in line with national and Zhejiang provincial energy industry policies, aligns with the company's strategic transformation and development direction, and will help the company further expand its nuclear power footprint, optimize its energy industry structure, and build a diversified energy supply system.