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China to create the world’s largest power group; Shenhua Energy Co. will merge with power giant China Guodian Corp

September 20, 2017 Created By: CaliforniaCarbon.info

(Source: Shanghai Daily) CHINA’S largest coal miner China Shenhua Energy Co will merge with power giant China Guodian Corp to create the world’s largest power group, the State-owned Assets Supervision and Administration Commission said yesterday. The merger has been approved by the State Council and the merged entity will be renamed as the State Energy Investment Group Co, said Inner Mongolia PingZhuang Energy Resources Co, a listed subsidiary of Guodian, following the asset regulator’s announcement. The merged group’s assets exceed 1.8 trillion yuan (US$272 billion) and it boasts power generation of nearly 226 gigawatts — making it the world’s largest power group Read full article...