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China approves Shenhua, China Guodian merger to create world’s largest power company

Staff Writer |
The merger of Shenhua Group Corp., China’s biggest coal miner, with China Guodian Corp., one of the country’s biggest power generators, has been approved, the State-owned Assets Supervision and Administration Commission said.

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The Shenhua-Guodian tie-up may be the first combination among reforms in China’s power industry.

The new company would have total assets of more than 1.8 trillion yuan ($271 billion) and would have the largest generating capacity in China, according to Bloomberg New Energy Finance.

It will be the world’s second-largest company by revenue and world’s largest power company by installed capacity, according to BNEF.

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