National Grid wants to invest 5 billion U.S. dollars in Brazil

According to the "São Paulo State News" report, Cai Hongxian, general manager of China National Grid Brazil, said on the previous day that the State Grid intends to invest 5 billion U.S. dollars in Brazil by 2015 to expand its business to various fields in Brazil's power industry.

In an interview, he pointed out that Brazil has many investment opportunities in the areas of power generation, transmission and distribution. Therefore, the State Grid hopes to join the Brazilian power industry as a local enterprise. He said that in the field of power distribution, the State Grid has accumulated considerable expertise in China and can apply these technologies to the modernization of the Brazilian power grid. He also pointed out that although the power grid is very much looking forward to expanding its business in Brazil, it is still focusing on transmission.

At the end of May, State Grid completed the acquisition of shares in seven transmission concessions in Brazil. Previously, State Grid had also evaluated the acquisition plan for Rede Energy Group, but finally decided to give up.