chinas state power buys pacific hydro for undisclosed price dealbookchinas state power investment corporation to buy renewable energy company 16 2015hong kong chinas state power investment corporation agreed on wednesday to buy pacific hydro a renewable energy company from the australian pension fund ifm investors for an undisclosed pricepacific hydro has electric and wind facilities in australia brazil and chile and it will be added to the chinese companys roster of assets in 35 countries state power or spic was formed from a merger of china power investment corporation and state nuclear power technology corporation and has interests in logistics and coal powerthe acquisition of pacific hydro will add a high quality global renewable development platform to spic wang binghua the chairman of state power said in a news releasekyle mangini the global head of infrastructure at ifm investors said the fund had invested heavily in growing the business over the last 10 yearswe are not surprised with the level of buyer interest in the business and are particularly pleased that pacific hydro is transitioning to an owner of the quality of spic who will continue the path of growth and excellence he addedthe deal is expected to be completed in the first quarter of next year previous reports have said the deal would be worth 2 billion to 3 billionsantander global corporate banking and king wood mallesons advised state power credit suisse merrill lynch and herbert smith freehills advised ifm