CLP Holdings, set to go on an acquisition spree, estimates full-year unit sales will grow up to 4 per cent. The power utility's estimate is based on a 3 per cent increase in the first quarter of this year, according to chief executive Andrew Brandler. Mr Brandler said CLP - which supplies electricity to consumers in Kowloon, the New Territories and Lantau Island - wants to expand its business in China and Southeast Asia through acquisitions. 'We're very optimistic about China's prospects,' Mr Brandler said. 'State Power Corp is expected to spin off power generation assets and we stand to benefit from it.' At present, CLP's key mainland investment is the Beijing-Tianjin-Tanshan grid, through a joint-venture with Beijing Guohua, a unit of the state-owned conglomerate Shenhua Group. 'You can see opportunities as the central government is developing western China,' chairman Michael Kadoorie said. 'There is an east-west pipeline and there is power distribution business. 'We'll explore each opportunity that fit the company's ability.' However, Mr Kadoorie said the group had 'no current plan' to spin off any mainland projects on the stock market. Taking advantage of its existing power infrastructure and customer base, CLP has vowed to expand into the telecommunications business. 'Clearly, telecoms is an area the company must be involved in. It's a different revenue choice,' he said. Mr Kadoorie yesterday said that CLP would not bid for Hong Kong's third-generation mobile licence, and instead would pursue a role as a mobile virtual network operator, and a content and application provider. He said the group's long-running talks with the Government over the use of its power grids for telecoms purposes was close to reaching a conclusion. 'We expect talks to be completed in a reasonably short while,' Mr Kadoorie said. CLP must obtain Government approval as it plans to use regulated assets for non-power purposes. Talks has been going on for a year. Mr Brandler would not disclose how much the group would spend on the telecoms sector this year, but added the amount would be 'modest' compared to the group's level.