The Three Gorges Group takes a stake in Beikong, a new path for state-owned enterprises to restructure?
Posted in: Source: Energy Intelligence
After the Three Gorges Renewable Energy went public, its market capitalization exceeded 100 billion yuan on the same day. Since then, it has continued to rise, and so far its market value is close to 150 billion dollars.
Beijing Holdings, a state-owned enterprise in Beijing, issued an announcement stating that in order to better implement the Yangtze River Economic Belt national development strategy and the capital's green and high-quality development, the Beijing Municipal State-owned Assets Administration Commission, as the wholly-owned controlling shareholder of the Beijing Holdings Group, reached a preliminary agreement with China Yangtze River Three Gorges Group Co., Ltd. to further deepen equity cooperation by introducing China Yangtze River Three Gorges Group Co., Ltd. as a strategic investor in the Beijing Holdings Group.
One is a star state-owned enterprise for new energy development, and one is a typical state-owned enterprise in Beijing. The two companies joined forces to aim for the national development strategy of the Yangtze River Economic Belt and the green and high-quality development of the capital. Its significance has gone beyond simple capital operations to strengthen the ability to implement policies.
Some media reports speculate that the Three Gorges Group may control Beikong, thereby impacting the world's top 500. However, there is currently no official confirmation. The total assets of the two companies are close to 1.4 trillion dollars, exceeding the threshold of the top 500.
The Three Gorges Group is a state-owned enterprise deeply involved in clean energy. Relying on the Three Gorges Project, the Three Gorges Group leads hydropower construction, implements “going global” and “Belt and Road”, strives to create an upgraded version of China's hydropower “going global”, and is committed to becoming a leader in “going global” in the entire hydropower industry chain in China. The international investment business focuses on the markets of neighboring countries with interconnection conditions, the water-rich markets in South America and Africa, and the new energy markets of developed countries in Europe and the US, and carries out mergers, acquisitions and new construction projects...