Zhejiang Zheneng Electric Power (600023.SH) plans to take an equity stake in establishing CNNC Ruian to explore multi-purpose utilization of nuclear energy.

Zhitong Finance APP news, Zhejiang Zheneng Electric Power (600023.SH) announced that the company plans to jointly contribute capital with China National Nuclear Power, Zhejiang Hengyi Group Co., Ltd. (hereinafter referred to as "Hengyi Group"), Wenzhou Nuclear Energy Development Co., Ltd. (hereinafter referred to as "Wenzhou Nuclear Energy"), and Ruian Jing'ou Technology Development Co., Ltd. (hereinafter referred to as "Jing'ou Technology") to establish CNNC Ruian, to develop, construct, and operate the Wenzhou Fenghuangshan Island nuclear energy project, and to explore multi-purpose utilization of nuclear energy, in which the company will contribute RMB 24.5 million, holding a 7% stake.