EDF, Guangdong Nuclear Form Joint Venture for Taishan Plant

By Wang Ying

Aug. 11 (Bloomberg) -- Electricite de France SA, Europe's biggest power producer, signed a final agreement to form a joint venture with China Guangdong Nuclear Power Holding Co. to build and operate two nuclear power reactors.

EDF will take a 30 percent stake in Guangdong Taishan Nuclear Power Joint Venture Co., the Paris-based company said in a statement yesterday. EDF and Guangdong Nuclear plan to build two European Pressurized Water Reactors in the southern province of Guangdong, according to the statement.

China is turning to alternative energy sources to cut its reliance on polluting coal, which generates almost 80 percent of the nation's electricity. Areva SA, the world's biggest maker of nuclear reactors, and Alstom SA have signed contracts with Guangdong Nuclear to supply nuclear equipment and turbines, EDF said in the statement.

The first reactor will start operating at the end of 2003 and the second in 2015, it said.

To contact the reporter on this story: Wang Ying in Beijing at ywang30@bloomberg.net;