Australia officially blocks energy grid sale to Chinese companies

Australia has officially blocked the sale of its biggest energy grid to two Chinese companies. The government has rejected the bid by firms State Grid Corp and Cheung Kong Infrastructure Holdings over security concerns. The decision follows last week’s government decision to put on hold the sale of Ausgrid for these companies. Australian Treasurer Scott […]

Australia blocks Chinese firm from stake in electricity grid

Australia has blocked Chinese and Hong Kong firms from taking a stake in electricity grid. State Grid Corp and Cheung Kong Infrastructure Holdings were bidding for a 50.4% stake in Ausgrid, a New South Wales’s electricity distribution network. The government said the proposals from both firms “were contrary to the national interest, in accordance with the required provision on […]