The China Guangdong Nuclear Power Group (CGNPC) inked an agreement on December 21 with EDF Group, a leading energy company in France, to build a joint-venture nuclear power plant in Taishan, Guangdong Province.

With registered capital of 16.74 billion yuan ($2.45 billion), the partnership will be the largest energy venture in China. CGNPC will hold a 70-percent stake in the venture, with the remainder owned by EDF. The nuclear power plant's two generators, each with a capacity of 1750 megawatts, will come into commercial use by the end of 2013 and 2014, respectively.

This deal marks a step forward in energy cooperation between the two countries and is expected to pave way for a deeper bilateral economic tie-up.