Shenhua Group Corp to merge with China Guodian Corp and create China Shenhua Energy Company worth $278bn.

China’s top coal miner Shenhua Group Corp Ltd took over China Guodian Group Corp, among the country’s top five state power producers, in a deal that will create the world’s largest power utility worth $278bn. The combined entity have an installed capacity topping 225 gigawatts, eclipsing EDF and Enel to be the world’s biggest power company by capacity. It is also the largest wind power developer in the world with 33 gigawatts of capacity and the biggest coal producer.