Hollysys nuclear JV wins contract at Yangjiang nuclear power station

Source: Hollysys Automation Technologies, Ltd

Hollysys Automation Technologies, Ltd. (NASDAQ:HOLI) (Hollysys or the Company), a leading provider of automation and control technologies and applications in China, announced that its nuclear joint venture, China Techenery Co., Ltd. (CTEC), established with China Guangdong Nuclear Power Holding Co., Ltd. (CGNPC), was granted a contract to commission automation and control systems of #3 and #4 reactors of Yangjiang nuclear power station, of which the conventional island automation and control system is designed to be based on Hollysys proprietary HOLLiAS-N platform. 

The Yangjiang nuclear power station in Guangdong province is funded and constructed by a consortium of power corporations led by China Guangdong Nuclear Power Holding Co. The plant is built to have six one-gigawatt (GW) pressurized water reactors using CGNPC's proprietary CPR-1000 technology, with the total estimated cost at around US$10.3 billion, or RMB 70 billion. 

Dr. Changli Wang, CEO and Chairman of Hollysys, commented, "We are pleased to see the continuous order flow from CGNPC to our nuclear JV, for reactors currently under CGNPC's construction. Given the concerns surrounding safety issue of nuclear power, we believe China will have to continuously rely on nuclear as a clean, economical power source compared to traditional coal-fired energy, and the heightened safety consciousness would benefit China's nuclear industry in a long run." 

CTEC's current order book is consisted of the following fourteen reactors: #1, 2, 3, and 4 reactors of Hongyanhe Nuclear Station, #1, 2, 3, 4 reactors of Ningde Nuclear Station, #1, 2, 3, 4 reactors of Yangjiang Nuclear Station, and #1, 2 reactors of Fangchenggang Nuclear Station.

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