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PRINTChina National Nuclear Power Co. said Friday that it received final approval from the Ministry of Environmental Protection to move forward with its planned initial public offering.
The move is in line with China's long-term nuclear power ambitions, which include building as many as 100 reactors over the next two decades to help shift away from coal as a fuel source.
The state-owned nuclear power operator said in June that it had received preliminary approval from the ministry to move ahead with an IPO plan to finance five power projects worth 173.5 billion yuan ($27.3 billion). At the time, analysts said the deal could raise as much as $5.4 billion for the Chinese government.
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