28 Aug '17, 7pm

China Is Creating the World's Largest Power Company

China Is Creating the World's Largest Power Company

China’s creating the world’s largest power company. The government of President Xi Jinping approved the merger of Shenhua Group Corp., the country’s top coal miner, with China Guodian Corp., among its largest power generators, the State-owned Assets Supervision and Administration Commission said Monday. With assets of 1.8 trillion yuan ($271 billion), the new entity will be the world’s second-biggest company by revenue and largest by installed capacity, according to Bloomberg New Energy Finance. The Shenhua-Guodian tie-up may be the first of a handful of mergers in China’s power industry as top policy makers try to cut industrial overcapacity and the number of state-owned enterprises. Monday’s announcement concludes months of speculation about the combination, first reported by Bloomberg in June. “People have been waiting for the other shoe to drop,” said Tian Miao, a Beij...

Full article: http://www.renewableenergyworld.com/articles/2017/08/chin...

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