China’s power generation companies will have to contend with massive closures of their smaller coal-fired power plants as government plans to shut excessive coal and steel capacity deprives the plants of customers, local media reported. China Guodian Corp [CNGUO.UL], one of the country’s top five state-owned power companies, might stumble as less-efficient “zombie” power plants are no longer economically viable, said Zhang Shumin, Guodian’s chief economist, on Saturday, as cited by Chinese financial publication Lengjing on their website. “Thermal power plants will face difficulties in operating in the next three to five year, even edging to bankruptcy, especially for the small plants and those that fail to meet environmental standards,” said Zhang. To relocate employees from the small thermal power plants, Guodian plans to increase wind power in […]