January 20, 2011
Exelon Nuclear Partners Completes MOC with CNNC Nuclear Power Company Ltd.
Marks the first step towards providing nuclear power operations service support
CHICAGO - Exelon Nuclear Partners today announced the completion of a Memorandum of Cooperation with CNNC Nuclear Power Company Ltd (CNNP), the largest nuclear energy owner and operator in China. The Memorandum is completed with the intent of entering into a series of agreements to promote safe, efficient, and reliable nuclear operations in CNNP’s nuclear power operations in China. The Memorandum anticipates further agreements for service support to be completed by June 30, 2011, and marks the beginning of long-term cooperation between the companies.
“The significant investment in nuclear energy currently happening in China makes it a critical market for Exelon’s global ambitions” said Thomas Mundy, President and CEO of Exelon Nuclear Partners. “We see a great opportunity for Exelon to share our global best practices and the Exelon Nuclear Management Model, and are encouraged by the positive and proactive approach of leading Chinese nuclear companies to adopting, incorporating, and benefiting from Exelon’s decades of experience in safe and reliable nuclear operations. This Memorandum of Cooperation with CNNP places us in a position to be a preferred service provider helping CNNP and China to achieve their safe and reliable renewable energy goals and nuclear development plans.”
Representatives from CNNP are scheduled to visit Exelon facilities in the first quarter of 2011, where they will explore cooperating opportunities in nuclear plant operating services and support. CNNP has expressed specific interest in the techniques and principles that have made Exelon the world’s most efficient nuclear power operator, including:
- Business planning;
- Performance management processes;
- Organizing information exchange seminars; and
- Benchmarking on key parameters and processes:
- Nuclear safety
- Outage management
- Cost control
- Good practices
- Operating experience
“We look forward to learning from Exelon Nuclear Partners deep experience in managing nuclear power plant operations, and integrating some of their globally-recognized best practices into our own operations,” said a representative from CNNP. “Matching our commitment to nuclear power development with Exelon’s operating experience and expertise will be a win-win situation for both organizations in securing safe nuclear plant operations.”
The signing of this MOC comes on the heels of the inaugural China International Nuclear Symposium in November 2010, where Exelon COO and WNA Chairman Christopher Crane met with leaders in the Chinese nuclear industry, expressing confidence and support for the ongoing development of the nuclear energy field. It also coincides with the arrival in the United States of Chinese President Hu Jintao, Minister of Commerce Chen Deming, and key ministers and representatives of China’s energy industry.
About Exelon Nuclear Partners
Exelon Nuclear Partners is a wholly owned subsidiary of Exelon Corporation. Exelon Nuclear Partners was created to work with existing operators and those new to nuclear development and operations and provides support in areas including pre-construction considerations, community relations, government and regulatory applications, site approval, financing, construction and operations. Exelon Corporation is one of the nation’s largest electric utilities with more than $17 billion in annual revenues. The company has one of the industry’s largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and southeastern Pennsylvania and natural gas to approximately 486,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.
CNNC Nuclear Power Company Ltd. (CNNP), as a wholly-owned subsidiary of China National Nuclear Corporation (CNNC), is the assignee of all the shares of nuclear power companies under CNNC and exercises shareholder rights for these companies. As the profit center of nuclear power business in CNNC and the main entity for preserving and increasing the value of CNNC’s nuclear assets, its scope of business includes nuclear power plant investment, operation, R&D, technical support and consultancy service, and new energy development.