CGN To Set Up South-East Asia Regional Headquarters In Kuala Lumpur

KUALA LUMPUR, April 12 (Bernama) -- China General Nuclear Power Corp (CGN), the world's leading clean energy company, will set up its regional headquarters in Malaysia to be known as CGN South-East Asia Company. "The company would would enhance the development and investment of clean energy in the region," CGN President, Zhang Shanming, said at the launch of "New Edra, A New Chapter" here Tuesday. The event, organised by CGN, saw the company make its first public appearance as the new shareholder of Edra in Malaysia. Present at the ceremony were Deputy Finance Minister Johari Abdul Ghani, Melaka Chief Minister Idris Haron, as well as representatives from the Ministry of Energy, Green Technology and Water, Bank Negara Malaysia and Energy Council of Malaysia, according to a statement issued here. Also present were China's Ambassador to Malaysia Dr Huang Huikang, Egypt's Ambassador to Malaysia Salah Mohi Eldin Elwassimy, envoys, corporate captains of industry, China's investor representatives and over 100 guests. CGN is an international energy group which focuses on clean energy. It has developed projects relating to solar energy, wind power, biomass and gas worldwide, including in the US, Australia, Singapore, South Korea, UK, France and several other countries. The company has an installed capacity of over eight million kilowatts of wind power and over 1.2 gigawatts of solar energy. As for the nuclear power, the installed capacity from ongoing projects and those under construction is expected to reach over 32.4 gigawatts. On Nov 23, 2015, after the third round of the international bidding, CGN and Edra Global Energy Bhd finally signed a share sale and purchase agreement The deal was completed on March 23, 2016, whereby CGN became the largest independent power producer in South Korea, Egypt and Bangladesh, which brings the company's overseas installed capacity to 8.85 gigawatts. According to reports, the new board of directors of Edra was established on March 23. CGN has appointed its representative, Lin Jian, as Chairman, while Edra's immediate Past President Mark Ling continued to serve as new President. The company will retain all existing staff of Edra in efforts to fully optimise their skills and resources, the statement said. Zhang said the Edra team has a wealth of management experience and professional quality which had laid a solid foundation for the next phase of development. "Edra's human resources are the most important assets of the company. They are also a precious resources for the expanded CGN family with the inclusion of Edra," he said. Zhang also said "CGN will uphold its principle of globalising its talents and localising the labour force so as to create more employment opportunities for Malaysians and in efforts to help and sustain the country’s economic growth." He stressed that CGN was deeply committed to strengthening cooperation with the local supply chain, taking fully into account local requirements and contributions to the local economy. He cited how the CGN's Husab Uranium Mine Project in Namibia was expected to boost the Namibian gross domestic product by five cent and increase exports by 20 per cent when it begins to mine this year. The local staff accounted for 87 per cent while the international staff stood at six per cent. He said Edra only contributed to 14 per cent of the total domestic generation capacity. As a result, Zhang said, it was the duty of the new Edra and a top priority of Edra’s management to ensure safe and stable power supply. With Malaysia being a notable diversified emerging industrial country in Asia and an emerging economy in the world, CGN is optimistic about the future development of power supply in the country. It is because of this that CGN decided to set up its South-East Asia regional headquarters in Kuala Lumpur, and in the process continue its collaborations with countries in the region. Currently, CGN has developed a number of solar energy, wind power, biomass, gas-power projects in the US, Australia, Singapore, South Korea, Europe and other countries. It has four listed companies -- three in Hong Kong and one in Shenzhen. -- BERNAMA