China's $1 Trillion Power Industry Overhaul Is Just Starting
- Shenhua, Guodian merger seen first step in electricity revamp
- President Xi Jinping seeking to cut overcapacity, coal use
China Is Creating World's Largest Power Company
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China’s move to create the world’s biggest power company is expected to be the first such mega-merger in the largest energy consumer.
The newly formed China Energy Investment Corp. -- a combination of Shenhua Group Corp., the nation’s largest coal miner, and China Guodian Corp., one of its top-five power generators -- may be the first of multiple consolidations, which Wood Mackenzie Ltd. estimates would include almost $1 trillion in assets.