CSG & CGN Completes Delivery of Equity Interest in Malaysia’s Project Edra

    CSG’s Board Chairman Li Qingkui, CSG’s Vice President Bi Yaxiong, CGN’s Board Chairman He Yu and CGN’s President Zhang Shanming, together with leaders of both companies, were applauding for the successful completion of equity delivery of Edra project. (photo by Wu Xingbo)

Shenzhen - China Southern Power Grid (CSG) and China General Nuclear Power Corporation (CGN) are pleased to announce the completion of the equity delivery of Edra project during a signing ceremony here in Shenzhen with CSG acquiring a 37% stake of Malaysia’s independent power producer, Edra.

China Southern Power Grid’s Board Chairman Li Qingkui, Vice President Bi Yaxiong, CGN’s Board Chairman He Yu and President Zhang Shanming attended the signing ceremony.

On behalf of CSG, Tang Hongjian, Board Chairman of CSG International Co., Ltd., and Lin Jian, CGN’s Executive Director, signed the agreement as CGN’s Vice President Shi Bing chaired the signing ceremony.

Heads of relevant departments of both companies attended the ceremony.

Prior to the signing ceremony, Mr. Li held talks with Mr. He over deepening cooperation that will create significant win-win results.

Mr. Li said, “as CSG develops not only power grid regulation, integrated energy and finance but also businesses in countries along the Belt & Road, Edra project is a new starting point for bilateral cooperation and lays a solid foundation for countries along the Belt and Road to carry out extensive cooperation. It is hoped that both sides will strengthen confidence and work in unity for fruitful results.”

Mr. He shared his desire that both sides could, “regard this project as a great opportunity for further cooperation, so as to ‘go global’ hand in hand”.

Malaysia’s Edra, one of the largest independent power producers in Southeast Asia, owns 13 power stations with an installed capacity exceeding 8,770 MW.

Edra currently has projects in five countries along the Belt and Road, which have great demands for electricity: Malaysia, Egypt, Bangladesh, Pakistan and the United Arab Emirates.

China Southern Power Grid can achieve a strong “synergistic” relationship by leveraging its power grid operation and maintenance expertise and cooperating with power producers like CGN and, at the same time, Malaysia’s Edra will be making significant investments in power grid sector.

Both CSG and CGN stand to yield substantial “win-win results” by tapping into complementary advantages in power grid building and operation.