China’s State Power Investment Corporation has agreed to buy Pacific Hydro, a renewable energy business, in the latest in a string of Sino-Australian infrastructure deals.
IFM Investors, one of Australia’s largest pension funds, said on Wednesday it had signed an deal with State Power to sell the portfolio of 19 hydroelectric and wind farms in Australia, Chile and Brazil. It did not give a sale price but local media put it at more than A$2bn.
“State Power is committed to maintaining the stability of Pacific Hydro’s current business and management teams, as well as supporting the expansion through the pipeline of development projects,” said Wang Binghua, chairman of State Power, in a statement.
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