Chinese owned company to enter Australian energy market and ‘exploit it’
almost 4 years in themercury
News Corp Business columnist Terry McCrann says everything China does in terms of foreign investment is “to get into the space and exploit it,” amid news a Chinese company is poised to enter into Australia’s energy market.
Chinese company Gold Wind has emerged as a frontrunner to win the tender process of the Glennies Creek pumped hydro project as Australian suitors AGL and Meridian bow out.
Mr McCrann said the aim for the Chinese company is to “get into the space at a low price and then milk it while you’re there”.
The Australian’s Adam Creighton told Sky News host Peta Credlin the major issue with hydro projects is “apparently it gives the company a greater role to influence the (energy) grid”.
Image: AP
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