By Jonathan Grant King & Wood Mallesons’ Corporate & Securities Group
In a clear signal towards the ongoing appetite of Chinese investors for quality global assets, China’s State Power Investment Corporation (SPIC) successfully acquired Pacific Hydro Group, IFM Investor’s renewable energy portfolio. The acquisition was one of the largest ever by a Chinese bidder into Australia, and SPIC’s first venture into the country.
The buyer, SPIC, is one of the five-largest power generation groups in China, with over 100 GW of installed capacity. It has over US$113 billion of generation assets under management across 35 countries and regions including China, Japan, Turkey, Malta, Vietnam, Pakistan and Guinea. KWM acts for SPIC on this successful acquisition.
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