The Youngest Member of World Nuclear Association Has its Debut in London

2017-12-07 Ocean Nuclear

Ocean Nuclear is a international financial service provider specializing in nuclear energy sector. As an active member of WNA, it just launched its UK office in London, marking a new beginning for international nuclear industry.

05:36, Nov 29, 2017, the 21st Century Business Herald

SHI Yan, Special Correspondent in London

Ocean Nuclear Co. Ltd., the international nuclear power has announced the inauguration of its UK office in the Ritz London, at Nov 27. With office at Cocoon Networks at the centre of London, Ocean Nuclear is actively preparing the 2018 Global Nuclear Investment Summit (GNIS) coming up next spring in London, the first ever international summit integrating financial and nuclear industry.

Ocean Nuclear will continue to expand GNIS’s footprints in various countries and regions, such as France, Belgium, UAE, Korea, South Africa. With focus on hot-spot issues and investment projects in nuclear industry, the company is highly committed to promote international nuclear technology innovation and development through providing tailor-made financial solutions. 

After the three Chinese nuclear giants in nuclear field, namely CGN, SNPTC, CNNC, all of which are Chinese state-owned enterprises, Ocean Nuclear managed to become the forth member of WNA from China, despite the fact that it has just official launched in China one month ago.

Dr. Jonathan Cobb, Senior Communication Manager of WNA, speaks highly of Ocean Nuclear’s ambition, and expects more resources and opportunities for UK since its London office inauguration. “Nuclear industry is worth investing for, so giving experts in financial sector a deeper understanding about it is of great importance.” he further added. 

Ms. Laura Xu, investment manager - Asia Pacific of London & Partners, extended warm welcome to Ocean Nuclear on behalf of London’s official promotion agency. She mentioned in her address that London has witnessed the rapid growth of Chinese investment which made China the second biggest investor of the city. “At the moment a quarter of power had generated from nuclear power, and that will increase by 1/3 by 2035 technically. ” she said, “But new nuclear investment faces particular challenges, including high upfront cost for financing projects.” 

Starting From Scratch

Despite the fact that he has owned financial enterprises such as JINR.COM, Mr. Qiu zhen has never showed appearance in media, and just had his debut as the chairman of board of Ocean Nuclear Group. According to our first meet, Qiu seems to like jumping on his insightful but divergent thoughts. His unpredictable answers sometimes makes me feel desperate to follow his insights.

Being asked why nuclear, a field he has never been invested in, and especially why in international market, Qiu answered with a serious of questions, “In your perspective, how should we make most of our country’s $ 3 trillion foreign exchange reserve? Just buying properties overseas? Would that be enough?” He said that he “looks down upon” those Chinese companies who only bought buildings in international market, because of the low level of technical content. “A part of those $ 3 trillion should be invested into energy sector whose return is stable.” he added.

As for the brand new nuclear industry, it seems not to be his concern. “There is nothing to feel shamed about pooling talents and professionals to fill the gap of expertise.” Mr Qiu emphasized, “Ocean Nuclear is not going to building nuclear plants ourselves, rather we provide professional financial solutions for nuclear companies and projects with our capital base and resources.” 

In the eyes of his colleagues, this gentleman, who is always on the go all over the world, is like a “superman”.

In Ocean Nuclear Group, staff call each other by their job number, and “00” is the job number for Mr. Qiu zhen. Surrounded by millennials, he was nicknamed as “double-zero” which he does not mind at all.

“Double-zero hardly ever presents with PPT slides. However, in one meeting in Shanghai this year, he showed us about what he had been working for the whole year with a 12-slide PPT presentation . In each and every one of the slides, there is one picture of financial license of our company in various financial segments in China.” an employee in the enterprises told us.

None of those license had been earned easily, for instance, the license for life insurance has only been issued for 60 companies and organizations in China. However, those licenses did not hold him back from moving forward. 

As Mr. Neo Chen, General Manager of the nuclear financial service provider said, Mr. Qiu is the architect and strategic planner for Ocean Nuclear, what they should do is following his blue print and then spare no efforts to roll out those plans.

Qiu expressed his favor for such projects with huge investment volume as well as long and stable return just as nuclear projects, and he is confident that Chinese nuclear power enterprises would be willing to join hands with his private financial service provider.

Qiu also mentioned the case that Korea investors, guided by KEPCO, won the bidding for UAE nuclear power project worth more than $ 40 billion. He believes the reason Chinese investors failed lies in the absence of private enterprises.

Talking about location, Qiu chose London because it is a global rule maker. “China is not really good at making rules, but we Chinese are willing to embrace all international regulations. Simultaneously, located in London enables us to cooperate with more SWFs, such as those from Kuwait Investment Authority, South Africa, Saudi Arabia as well as insurance companies from Britain, Germany, France and European banks in nuclear energy market.”

According to Ocean Nuclear, the company is now actively looking for suitable overseas projects and ready to deploy ¥ 3 to 6 billion in the coming year.

Introducing insurance funding into international energy markets

Despite the large profitability of nuclear power project, the nature of high level of technology, huge capital cost, and long return period has discouraged private enterprises for a long time. Ocean Nuclear firmly holds that we are entering a new age where the financing of new projects and updating of old facilities in the nuclear power sector cannot entirely depend on government infrastructure budgeting. And private sector should shoulder the responsibility to help nuclear industry move forward.

According to the company, based on close cooperation with Multilateral Agencies and DFIs, Ocean Nuclear is determined to secure capital injection into nuclear power projects under various stages of development.


Email: info@o-nuclear.com


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