Factbox: Shenhua and Guodian: China's latest state marriage

Image
Reuters BEIJING
Last Updated : Aug 28 2017 | 7:08 PM IST

BEIJING (Reuters) - China's top coal miner Shenhua Group Corp Ltd will take over China Guodian Group Corp, among the country's top five state power producers, in a deal that will create the world's largest power utility worth $278 billion.

At the end of April, Shenhua had assets worth 1.04 trillion yuan and Guoadian had assets of 800 billion yuan, making the combined company worth 1.84 trillion yuan ($278.03 billion).

Here is a breakdown of each companies' operations:

GUODIAN GROUP:

Group had total installed capacity of 143 gigawatts of power, including 26.17 GW of wind at end-June. It is also leading hydropower and renewables developer and produced 58.72 million tonnes of coal in the first of the year.

Its listed unit GD Power has 22 coal fired power plants with capacity of 34.3 GW and has 7.6 GW under construction. Five of those operating plants lost money in the first half.

Other listed units of China Guodian are Guodian Changyuan Electric Power Co Ltd, Yantai LongYuan Power Technology Co Ltd and Ningxia Younglight Chemicals Co Ltd

SHENHUA GROUP:

Shenhua said on Monday it expects to produce 278 million tonnes of coal in 2017, down from a previous target of 290 million tonnes. It also set a sales target of 396 million tonnes for 2017.

Its website says end-2015 it had 54 coal mines; total installed power capacity 78.5 GW, 2,155 km of rail network and port cargo capacity of 270 million tonnes.

Shenhua's listed unit Shenhua Energy Co Ltd has 18 power plants with capacity of 33 GW and 3.9 GW under construction.

Seven of those were in deep loss in the first half. The listed company was one of the most profitable public commodity companies in the first half.

(Reporting by Josephine Mason and Meng Meng; editing by Susan Thomas)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 28 2017 | 7:00 PM IST

Next Story