State Grid acquires 819 million U.S. dollars for seven transmission companies in Brazil

China State Grid Corporation recently acquired and took over seven transmission concession companies in Brazil for US$989 million, which is another major overseas investment of the company following the acquisition of the Philippine National Grid earlier this year. The acquisition is expected to bring more than US$110 million in annual profits to the national grid, and will also drive China’s mechanical and electrical equipment, power engineering and other resources into the South American market.

The reporter learned from the State Grid on the 20th that the project acquired from four Spanish companies included seven transmission companies and their transmission assets for a 30-year operating franchise. After the expiry of the concession, it can be renewed by the BRA for 20 years. . The acquired assets are located in the southeastern region of Brazil's most economically developed region and supply electricity to Brasília, Rio de Janeiro and Sao Paulo, the three most important cities in Brazil. The assets are ranked fifth among Brazilian transmission companies. The delivery closing ceremony was held in Rio de Janeiro on the 15th.

State Grid stated that it will build this project into the operation platform of the company's internationalization business in Latin America and the overseas application center of UHV transmission technology. Through the operation of the project, it will further participate in the international market competition and accumulate international experience, consolidate. China Power Grid Corporation Internationalization Achievements.

According to reports, Brazilian governments at all levels and the media have generally given positive comments on the participation of State Grid in Brazil’s transmission investment. They believe that this company, ranked eighth in the Fortune Global 500, will enter the Brazilian market and will help promote the development of Brazil’s transmission grid.