State Grid plans to spend $1.8 billion to acquire seven energy companies in Brazil

According to China Economic Net news, an official of the Brazilian Electricity Regulatory Commission revealed on Monday that the State Grid Corporation of China is expected to win a deal in Brazil involving a total capital of 1.8 billion U.S. dollars (3.1 billion reais) as China’s largest The power operator, State Grid Corporation of China, will acquire seven energy companies that operate in power in Brazil. The deal is expected to be completed in October this year.

Bloomberg’s report stated that the Brazilian Electricity Regulatory Commission has agreed in principle to the deal. In an interview with Bloomberg, the head of the committee, Nelson Hubner, said that Brazil’s electricity regulator will review the deal after two and a half months. He said: “The possibility of approval is very high.” Will be acquired by China State Grid Corporation The seven energy companies are Brazilian local power operators. They are: Elecnor SA, Abengoa SA, Isolux Ingenieria SA and Cobra Instalaciones y Servicos SA. Brazil is the largest economy in Latin America and the rapid economic development has led to an increase in electricity demand. The power industry is an industry favored by many investment agencies.

According to a report released by the Energy Research Agency of Brazil, the household electricity consumption in Brazil hit an 11-year high in 2009. In July, the electricity consumption of enterprises surged by 14% compared to the same period of last year and it also set a single monthly increase. recording. State Grid Corporation of China was established on December 29, 2002. It is a large-scale enterprise that operates on the basis of some enterprises and institutions of the former State Power Corporation and operates power transmission, transformation, distribution, and other power grid assets. It invests in building and operating power grids as its core business. The information published on the company's website shows that the registered capital of the company is 200 billion yuan, and the business area covers 26 provinces, autonomous regions, and municipalities in China, covering more than 88% of the country's land area.