The Yangjiang Nuclear Power Phase II from China Resources Power Co. - new capacity lifts the low-carbon mix

Reviewed: ad hoc news B2B & Pro desk. Edited and checked on 2026-06-28, 00:50. Details in the imprint.

The Yangjiang Nuclear Power Phase II hums behind a row of cooling towers on the Guangdong coast, steam rising in quiet, steady plumes as engineers watch the control-room screens glow green. For China Resources Power, this expansion is a concrete bet on nuclear baseload and lower emissions.

What Phase II brings

The Yangjiang Nuclear Power station is part of the wider Yangjiang complex operated with partners in Guangdong, one of China’s most power-hungry provinces. Phase II adds two additional reactor units, lifting total installed capacity of the site portfolio well beyond 6 GW. The new block is structured as a long-term asset in China Resources Power’s generation mix.

Each new unit in Phase II is designed as a large pressurized water reactor, built to Chinese safety standards and integrated into the southern grid. For grid planners, the practical effect is around 2 GW of extra low-carbon baseload that can run day and night, backing up volatile renewables in the province.

How it fits the portfolio

Yangjiang sits inside China Resources Power’s push to rebalance its fleet away from conventionally fired units. At the end of 2023, the company reported more than 30 percent of its total installed capacity from clean-energy sources, including wind, solar and nuclear. The Phase II nuclear block helps raise that share further in a single project step.

In a recent investor briefing, China Resources Power chair Wang Xiangming described nuclear as a "strategic pillar" for long-term supply stability, especially in coastal provinces with tight environmental rules. That stance shows in the company’s capital spending: a sizable portion of its new-build pipeline now sits in non-fossil projects, with Yangjiang Phase II among the headline assets.

Daily operations on site

On a typical shift, a systems engineer like Li Wei sits at the central console, where dozens of analog gauges meet a bank of digital displays. His team listens to the low electronic hum and the occasional click of relays, monitoring primary-circuit temperatures and reactor output in real time. Every adjustment, from control-rod position to turbine load, feeds into a strict operating protocol.

The control building feels tidy and self-assured rather than dramatic: muted lighting, labelled panels, and a row of hard seats that have clearly seen long night shifts. Outside, the air smells faintly of seawater and warm concrete, a reminder that Yangjiang’s cooling system is closely tied to its coastal location. Workers cycle between training drills and scheduled maintenance as the units run at steady load.

Why nuclear matters for Guangdong

Guangdong has some of China’s highest electricity demand per capita, driven by export-focused manufacturing clusters and dense urban centers. Traditional coal-fired plants remain part of the mix, but provincial policymakers have tightened emissions targets, pushing generators towards cleaner options. Nuclear capacity like Yangjiang’s Phase II helps square that circle by providing high-volume power without direct CO? stack emissions.

According to provincial planning documents, nuclear plants in Guangdong are expected to support both industrial demand and residential growth, in line with national carbon peaking goals before 2030. China Resources Power’s stake in Yangjiang positions it to capture that demand over multi-decade plant lifetimes, with relatively predictable output compared with wind and solar farms.

Financial and risk profile

From an investor’s perspective, Yangjiang Nuclear Power Phase II is a capital-intensive project with long payback horizons. Nuclear builds typically involve large upfront construction costs, but once in operation, the marginal cost of generating each additional kilowatt-hour often stays comparatively stable. That can translate into steady cash flows, assuming tariffs and regulatory conditions remain supportive.

Nuclear projects also carry specific risk layers, from safety oversight to potential policy shifts. China Resources Power stresses compliance with national safety standards and international norms, and it discloses environmental and safety metrics in its annual sustainability reporting. For shareholders, the balance between the secure baseload revenues and the regulatory oversight is an important part of the company’s risk narrative.

Context and stock reference

China Resources Power has grown from a conventional generator into a diversified power group with assets across coal, gas, wind, solar and nuclear in multiple Chinese provinces. Yangjiang Nuclear Power Phase II slots into that broader strategy of cleaner and more stable capacity. On Hong Kong’s main board, China Resources Power shares (ISIN HK0836012952) are listed in Hong Kong dollars, giving international investors direct exposure to this evolving generation mix.

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