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China set to create world's top power utility with latest government merger

It would also be the largest wind power developer with 33 gigawatts of capacity and the biggest coal

Reuters  |  Beijing 

China Guodian Group Corp, among the country's top five state power producers, will merge with coal giant Shenhua Group Corp Ltd, in a deal that will create the world's largest power utility. The companies have been in talks about a merger for several months as Beijing aims to shake up its indebted and inefficient state sector, streamline the number of companies and create globally competitive firms in sectors including power generation, shipping and metals. The Guodian-Shenhua deal was announced on Monday by China's State-owned Assets Supervision and Administration ...

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First Published: Mon, August 28 2017. 17:27 IST