BEIJING, July 17 China's dominant electricity
distributor, State Grid Corp, may soon end talks to
buy a controlling stake in the U.S. wind power business of AES
Corp because little progress has been made, a State Grid
executive said on Tuesday.
Analysts have said the assets under consideration could be
worth about $1.65 billion and an acquisition would mark State
Grid's first foray into the United States, but it was not clear
how much State Grid would pay for the assets nor how the
business would be structured.
"We have talked about it for a while, but not decided yet.
There are some discrepancies that we are trying to resolve," Shu
Yinbiao, deputy general manager of State Grid, told Reuters on
the sidelines of an industry conference. "The talks are about to
end," Shu said, without elaborating.
Sources told Reuters in February that State Grid, which has
made a string of overseas acquisitions in recent years, had held
talks with AES Corp about taking an 80 percent stake in its U.S.
wind power business.
Shu told the conference on Tuesday that his company was
currently looking at three other projects in the United States.
"We are in talks for cooperation in power grid and equipment
manufacturing projects, while our cooperation in wind power
renewable energy projects is just starting," he said, without