Saturday, May 10, 2008

Huaneng may bid for Australian power assets

Beijing-based Huaneng Power International Inc, the nation's largest independent power energy company, may consider to bid for US$14 billion of power assets being sold by Australia's New South Wales state (NSW), sources said.

Decisions like whether China Huaneng will list a new entity on the Australian stock exchange is still pending.

China Huaneng has already bought power assets in Australia's Queensland and spent US$3 billion last month buying one power plant in Singapore.

It is also reported that Huaneng's main interests are in sectors like coal mining and coal supplies, uranium as well as power generation, according to sources.

The NSW power assets program has also attracted another Chinese power giant Shenhua Group, together with other global power companies like Origin Energy, AGL Energy, CLP Holdings and International Power Plc.

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