Nuclear power giant EDF is seeking to pick up a 30% stake in a planned nuclear power joint venture in China, reported The Economic Times, citing Le Figaro as its source.

The French firm is looking to join forces with China Guangdong Nuclear Power Corporation to operate the two European pressurized water nuclear reactors to be delivered by the French nuclear industry conglomerate Areva.

However, Thomson Financial cited Le Figaro as saying that EDF has declined to confirm the reports.

According to Thomson Financial, it has been estimated that the contracts for the construction of the two nuclear plants could be worth around E5 billion.

China is seeking to increase its nuclear power production base to counter increasing energy costs and address pollution concerns.