China green-lights the creation of the worl's largest power company
The Chinese government has approved the creation of the world’s largest power company. China has given green light to the merger of electricity producer China Guodian and coal company Shenhua Group.
The joint companies have combined assets of CNY1.8 trillion US$271 billion and with more than 225 GW it will be the world's largest company by installed capacity. 77% will be coal-fired capacity , but including also 33 GW of wind power capacity (14%) and hydropower (8%).
This merger may be the first among a handful of tie-ups in the Chinese power sector.
Shenhua Group, which will change its name to China Energy Investment Corp.,and by absorbing Guodian Group, will become the parent company.
We have informed about other M&As in China:
- United Photovoltaics Group acquires 200 MW plant in China’s Ningxia
- United PV acquires China New Energy Holdings (Hong Kong)
- LongiTech Smart acquires Gao Bei Dian City Guangshuo New Energy
- Engie acquires stake in Chinese solar developer UNISEN
- Canadian Solar sells two Solar Power Plants in China to Shenzhen Energy
- Trina Solar acquisition and delist
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