CGN Power reports modest Q3 generation growth, project progress

CGN Power and its subsidiaries reported a 2.67% increase in total gross electricity generation, reaching approximately 182.822 billion kilowatt-hours for the first nine months of 2025, compared to the same period last year. Total on-grid electricity also rose by 3.17% to roughly 172.179 billion kilowatt-hours. The Daya Bay Nuclear Power Station and Lingdong Nuclear Power Station saw significant increases in generation, partly due to less refueling outage time.

During the third quarter, CGN Power completed four annual refueling overhauls and one first-time refueling overhaul. As of September 30, 2025, the company had completed 12 annual refueling overhauls, two ten-year overhauls, and one first-time refueling overhaul for the year. The company is also making strides in new project development, with the Lufeng Unit 6 achieving dome hoisting and the Huizhou Unit 2 completing its hot functional test.

Furthermore, CGN Power completed a RMB4.9 bn A-share convertible bond issuance in July 2025, with proceeds allocated to replace self-funded investments in the Lufeng 5 and 6 projects. The company's board also approved the acquisition of stakes in four companies, including 82% of CGN Huizhou Nuclear Power Co., Ltd., and 100% of CGN Huizhou No. 2 Nuclear Power Co., Ltd., from its controlling shareholder, China General Nuclear Power Corporation.