Chinese Groups Keen on NSW Power Sale, Financial Review Says

Shenhua Group Corp., China Huaneng Group and TruEnergy Pty, a unit of CLP Holdings Ltd., are among potential bidders for New South Wales’ A$8 billion ($7.2 billion) electricity privatization, the Australian Financial Review said.

The three groups were “quite interested” in the assets, the newspaper reported, citing New South Wales state Treasurer Eric Roozendaal in an interview in Shanghai.

The state aims to sell three electricity retailers and new generator development sites, and expects to complete the sale by the year-end. “The New South Wales privatization processes have commenced, and we are continuing to assess the opportunity,” Winifred Wong, a spokeswoman at Hong Kong-based utility CLP, said in an e-mail today, without elaborating.

Liu Chunxiao, director of general affairs at Shenhua Group, and Li Zhaokui, press director at China Huaneng, didn’t answer telephone calls to their offices seeking comment.