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State Grid

June 2020
Tags: Energy

State Grid: Leader in electrical distribution in Chile

State Grid Corporation of China (SGCC) is the largest power distribution and transmission company in the world.  The company has invested and operates transmission networks in nine countries, in addition to China: the Philippines, Brazil, Portugal, Australia, Italy, Greece, Oman, Hong Kong, and Chile.   The power company made their interest in Chile known when they announced an agreement to purchase the Chilean operations of the US company, Sempra Energy. This included the purchase of Chilquinta Energy for US$2.23 billion. The sale was concluded in June 2020.   Four months later, SGCC announced the purchase of the electrical distributor, CGE, from the Spanish company, Naturgy, for US$3 billion. With this purchase, State Grid will have a 57% market share of the electrical distribution network in Chile.   SGCC announced that it had decided to invest in Chile because it is a leading country in Latin America with a solid economic performance and a stable legal and regulatory framework. SGCC stated to the La Tercera newspaper business segment, Pulso: “The country, without a doubt, has become an attractive destination for international operators like us.”   SGCC continued, “We believe that there is a lot we can share with Chile and we hope to work with CGE and the industry in general to support the development of the electrical sector in Chile and the strategy for the long-term growth of the country.”  
Tags: Energy
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Details

Company: State Grid
Investment Country: China
Area/Activity: Energy
Location: Santiago
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