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May 26, 2015 6:42 AM ET

Electric Utilities

Company Overview of State Grid Corporation of China

Company Overview

State Grid Corporation of China supplies electric power in China. The company is involved in the construction and operation of power network that covers various provinces, autonomous regions, and municipalities. It provides power to households and people without electricity in remote areas. The company was founded in 2002 and is based in Beijing, China. State Grid Corporation of China operates as a subsidiary of Government Of People's Republic Of China.

No. 86, West Chang'an Street

Xicheng District

Beijing,  100031


Founded in 2002

Key Executives for State Grid Corporation of China

General Manager and Director
Executive Vice President and Deputy General Manager
Executive Vice President
Executive Vice President and Deputy General Manager
Age: 56
Executive Vice President and Deputy General Manager
Compensation as of Fiscal Year 2014.

State Grid Corporation of China Key Developments

JSC ROSSETI and State Grid Corporation of China Sign an Agreement to Establish Joint Venture to Invest in Reconstruction of Electric Grid Infrastructure and New Power Capacity in Russia, and Potentially Abroad

JSC ROSSETI and State Grid Corporation of China (SGCC) signed an agreement to establish a joint venture (JV) to invest in the reconstruction of electric grid infrastructure and new power capacity in Russia, and potentially abroad. The agreement was inked by Rosseti CEO Oleg Budargin and SGCC Deputy Director General Du Zhigang. The joint venture will invest in the construction, reconstruction and subsequent operation of electrical grid facilities. In addition, it will act as an EPC contractor for the construction of turnkey facilities, providing engineering, procurement and construction services in Russia and other countries. Rossetti will own a 51% stake in the joint venture, while SGCC will own the remaining 49%. The projects will be financed in part by the shareholders themselves, with additional funds to be raised from Chinese and other international financial institutions.

State Grid Corporation of China to Build Jiuquan-Hunan UHV Power Project

State Grid Corporation of China said that the company plans to start building of the second trans-regional ultra high-voltage power project in the first half of the year, which is Jiuquan-Hunan plus/minus 800kV power transmission project. The National Development and Reform Commission entrusted consultancy firm to make a survey on the project on March 23 to 26. Western Inner Mongolia-Southern Tianjin 1,000kV power transmission project came under construction on March 27. State Grid plans to spend CNY 420.2 billion on ultra high-voltage power transmission and power grids interconnection this year.

State Grid Corporation of China Reportedly Retains HSBC For Acquisition Of Electricity Assets

State Grid Corporation of China has retained HSBC to advise it on the acquisition of up to $50 billion worth of electricity assets earmarked for sale by the Queensland and NSW governments. State Grid will rival three consortiums and other possible buyers, likely to include Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038), advised by Credit Suisse and potentially Citigroup Inc. (NYSE:C). So far, consortiums in place are Australian Super, Canada Pension Plan Investment Board and Borealis Capital Corporation advised by Morgan Stanley and Goldman Sachs, and IFM Investors Pty Ltd and QIC limited, which may be representing interests of the Future Fund and could be taking advice from Barclays. Caisse de dépôt et placement du Québec is said to have joined the Hastings Funds Management Limited’s consortium with Spark Infrastructure Group (ASX:SKI), advised by JP-Morgan and Royal Bank of -Canada. Universities Superannuation Scheme Limited and Abu Dhabi Investment Authority were in talks to join Hastings before Christmas and could be still searching for partnership opportunities. Singapore Power Ltd is still considering whether to enter the bidding. A decision on whether the Queensland government sells its electricity assets will depend on the outcome of the January 31, 2015 election. Macquarie and Bank of America Merrill Lynch are handling the Queensland sales. The sale will begin with Powerlink Transmission Services Pty Ltd. valued between $10 billion and $12 billion, followed by Energex Limited and Ergon Energy Queensland Pty Ltd. with all assets collectively worth about $30 billion. The government will also sell a lease for 100% of its electricity transmission network TransGrid, for between $7 billion and $8 billion. This will be followed by sale of 50% stakes in Ausgrid and Endeavour Energy. About $20 billion collectively is expected from the sell down.

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