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February 14, 2016 12:50 PM ET

Electric Utilities

Company Overview of State Grid Corporation of China

Company Overview

State Grid Corporation of China constructs and operates power grids. It supplies power to people, autonomous regions, and municipalities. The company also operates pumped storage power stations that produce hydropower in Hebei, Shandong, and Chongqing, China; and overseas assets in the Philippines, Brazil, Portugal, Australia, etc. State Grid Corporation of China was founded in 2002 and is based in Beijing, China.

No. 86, West Chang'an Street

Xicheng District

Beijing,  100031

China

Founded in 2002

Key Executives for State Grid Corporation of China

President and Director
Chief Financial Officer and Executive Board Member
Age: 52
Executive Vice President
Age: 57
Executive Vice President
Executive Vice President
Compensation as of Fiscal Year 2015.

State Grid Corporation of China Key Developments

State Grid Corporation of China Receives Approval from Beijing Administration for Industry and Commerce to Establish Global Energy Internet Group

The Beijing Administration for Industry and Commerce has approved State Grid Corporation of China to establish Global Energy Internet Group with a registered capital of CNY 100 million. The business to be set up will focus on global energy Internet strategic planning, multinational grid interconnection project development, investment, financing and assets operation management. The new company will form investment targets with an aggregate investment of CNY over USD 50 trillion.

Brazil Seeks Buyers For Abandoned Abengoa Transmission

Brazil's Mines and Energy Ministry is seeking buyers for local projects abandoned by Abengoa SA (CATS:ABG). Brazil's Mines and Energy Ministry said on January 22, 2016 that it has held talks in January with various investors in the transmission line and wind sectors to feel out potential interest in taking over local projects abandoned by Abengoa SA. The ministry told Reuters it had met with executives from local and international energy firms including CONTROL Y MONTAJES INDUSTRIALES CYMI, S.A. (Cymimasa) and Elecnor SA (CATS:ENO), State Grid Corporation of China and Engevix Engenharia S.A. and Alupar Investimento S.A. (BOVESPA:ALUP11). It also met with wind investors from Enel Green Power S.p.A. (BIT:EGPW) and Casa dos Ventos Energias Renováveis Ltda.

Eletrobras Approves Sale of Celg-D

Shareholders of Companhia Energética do Ceará - Coelce (BOVESPA:COCE5) authorized the company to sell its majority stake in Celg Distribuição S.A. Eletrobras plans to sell its 51% stake in Celg Distribuição S.A. for at least BRL 1.43 billion, according to a statement. The Centrais Eletricas Brasileiras SA is seeking to sell some operations as part of a government effort to raise cash. “Now we will open our books and the company can be auctioned in March,” Sinval Zaidan Gama, Chief Executive Officer of Celg Distribuição, said in a telephone interview from Goiania, in Goias state. “Eletrobras will be able to have more cash. Shareholders delayed a scheduled vote to authorize the sale of six other distributors,” said Sinval Zaidan Gama. Companies including Enel SpA (BIT:ENEL) and State Grid Corporation of China have already shown interest in buying Celg Distribuição. Regulators and executives had already approved the sale.

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