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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCLP CEO: We're 'open-minded' about the technologies we want to invest inTK Chiang, CEO of the Hong Kong electricity company, discusses renewable energy opportunities and its five-year development plan.
Persons: We're, TK Chiang Organizations: TK Locations: Hong Kong
Brookfield’s energy M&A loss is teachable moment
  + stars: | 2023-12-04 | by ( ) www.reuters.com   time to read: +2 min
MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're seeing growth in all of our key markets, says power utility firmRichard Lancaster, CEO of CLP, discusses the company's first-half results and says he expects electricity demand to continue growing.
Persons: Richard Lancaster Organizations: CLP
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralia is an important part of our portfolio, says Hong Kong power companyRichard Lancaster of CLP says although it has a strong focus on Hong Kong and mainland China markets, Australia is a good long-term investment for the company's portfolio.
It said the goal is to source "immediate interim funding to be able to continue work on as many projects as possible as quickly as possible". Clough is also handling construction of the A$768 million ($515 million) Waitsia Stage 2 gas project, owned by a unit of Japan's Mitsui & Co (8031.T) and Australia's Beach Energy (BPT.AX). The Waitsia Stage 2 project was due to start producing gas for export through the North West Shelf liquefied natural gas (LNG) plant in late 2023. "Given that an administrator has only just been appointed for Clough, it would be premature to speculate on the precise impacts for the Waitsia Gas Project Stage 2," Mitsui E&P Australia said in a statement. TransGrid said it would continue to work with Clough's partner Elecnor to deliver the A$2.3 billion project.
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