Company Overview of State Grid Corporation of China
State Grid Corporation of China generates and supplies electric power in China. The company is involved in the construction and operation of power network that covers 26 provinces, autonomous regions, and municipalities. It serves approximately 1.1 billion people. State Grid Corporation of China was founded in 2002 and is based in Beijing, China.
No. 86, West Chang'an Street
Founded in 2002
Key Executives for State Grid Corporation of China
Compensation as of Fiscal Year 2015.
State Grid Corporation of China Key Developments
State Grid Corporation of China Starts Building 3 Pumped Storage Power Stations
Sep 25 15
State Grid Corporation of China started construction of three pumped storage power stations in Hebei, Shandong and Chongqing. The three power stations, wth an investment of CNY 24.44 billion, has a total installed capacity of 4.8 million kilowatts and is scheduled to come into production in 2022; investment per kilowatt reaches over CNY 5,000. China had built 24 pumped storage power stations with a total installed capacity of 21.81 million kilowatts by the end of 2014, which represented about 7.2% of hydropower capacities. The three power stations will help save 2.91 million tons of raw coal and cut smoke and dust emission by 3,000 tons, sulfur dioxide emission by 14,000 tons, nitrogen oxide emission by 13,000 tons and carbon dioxide emission by 4.85 million tons annually after completion.
TransGrid Sale Reportedly Steps Up A Gear
Sep 8 15
TransGrid sale steps up a gear as talks reportedly begin. The NSW government’s sales process for its electricity transmission network TransGrid has stepped up a gear. Premier Mike Baird’s advisers on the deal, Deutsche Bank AG (DB:DBK) and UBS Group AG (SWX:UBSN), along with TransGrid’s management, have already a series of meetings between its executives and prospective buyers. They were said to have begun this week. Talks between management and bidders will continue through next month. The four parties vying for TransGrid are expected to pay as much as $9 billion for the sought after infrastructure offering. Short-listed bidding consortiums emerged last week. They are HSBC Bank Plc advised State Grid Corporation of China with Macquarie’s infrastructure arm, QIC Limited with IFM Investors Pty Ltd, advised by Lazard Ltd. (NYSE:LAZ) and Barclays PLC (LSE:BARC), a group backed by Australian Super and Canada Pension Plan Investment Board, advised by Goldman Sachs and Morgan Stanley, and another team that includes Spark Infrastructure Group (ASX:SKI) and Hastings Funds Management Limited, which has JPMorgan Chase & Co. (NYSE:JPM) and Royal Bank of Canada (TSX:RY) in its corner. Final bids will be made in November before a buyer is chosen by Christmas.
Indicative Bids For TransGrid Placed
Aug 27 15
Six groups from four continents placed indicative bids on August 27, 2015 for TransGrid, a source told Reuters. The sale is valued about $12 billion. "A strong field of parties have lodged indicative bids for the long-term lease of TransGrid," NSW Treasurer Gladys Berejiklian said. A source with direct knowledge of the process told Reuters that five consortia bid and that the status of a sixth, including another electricity company, AusNet Services (ASX:AST), Singapore Power Ltd and State Grid Corporation of China was uncertain. An Ausnet spokesman confirmed the company had previously lodged a formal expression of interest but declined comment further. Other bidders included IFM Investors Pty Ltd, with QIC Limited, the source said. Another consortium to bid was Hastings Funds Management Limited, Spark Infrastructure Group (ASX:SKI), Abu Dhabi Investment Authority and Wren House Infrastructure Management Limited, with Caisse de dépôt et placement du Québec, the source said. A fourth bidder was Canadian pension fund investor Borealis Capital Corporation, Canada Pension Plan Investment Board and AustralianSuper Pty Ltd, the source said. Global Infrastructure Partners and China Southern Power Grid Co.,Ltd. joined up for a bid and Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038) bid alone, the source added. State treasurer Berejiklian said the government "will now move to shortlist qualified parties for the lodgment of binding bids which will be due in the coming months". UBS AG and Deutsche Bank are handling the sale.
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