SHANGHAI :
China's Biggest Nuclear Power Firm CGN Buys Brazil's Gamma New Energy Project
Zhang Yushuo
DATE:  Jun 26 2019
/ SOURCE:  yicai
China's Biggest Nuclear Power Firm CGN Buys Brazil's Gamma New Energy Project China's Biggest Nuclear Power Firm CGN Buys Brazil's Gamma New Energy Project

(Yicai Global) June 26 -- China General  Nuclear Power, the nation's largest company in the nuclear sector, has  bought Brazil's Gamma project on its path to becoming the fifth-largest  clean energy producer in the South American country.

CGN penned an equity transfer deal with  Italy's Enel about the plant located in northeastern Brazil, Economic  Daily reported yesterday. The Shenzhen-based firm set up a local unit called CGN Brazil New Energy Holdings, planning to acquire another clean energy project in the country soon, the report added. 

Gamma went into operation in the second  half of 2017. The project has a total installed capacity of 540,000  kilowatts, including two solar energy projects totaling 450,000 kW and  one 90,000 kW wind park.

CGN will rely on its new Brazilian unit to  do business locally as well as expand to surrounding countries, such as  Mexico, Argentina and Chile, finally covering the entire South America,  said Chairman He Yu.

CGN has business in over 20 countries,  hiring more than 4,000 employees. Its overseas assets made up 18 percent  of the total at the end of last year.

Editor: Emmi Laine

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Keywords:   CGN,Brazil,Gamma,nuclear,clean energy