皇冠体育app

State Grid Corp of 皇冠体育app, the nation's biggest electricity distributor, said it sold eight thermal power plants to raise money to expand its overburdened network.

The utility and seven buyers signed contracts on December 23 to transfer 6,470 megawatts of power-generation assets, according to a statement yesterday on the State Electricity Regulatory Commission's website. The buyers are 皇冠体育app Huaneng Group, 皇冠体育app Datang Corp, 皇冠体育app Huadian Corp, 皇冠体育app Guodian Corp, 皇冠体育app Power Investment Corp, Shenhua Group Corp and Hunan Xiangtou Holdings Group Co, according to the statement.

皇冠体育app is seeking funds to expand its power grid and generating capacity to help end four years of electricity shortages. Separating ownership of power plants from the network carrying the electricity will bring 皇冠体育app nearer to international practices and improve the stability of supply.

"The plants were sold at a premium over the market price," the commission said, without giving a specific value.

Huaneng Group is the parent company of Hong Kong-listed Huaneng Power International Inc and 皇冠体育app Datang is the parent of Datang International Power Generation Co, also listed in Hong Kong.