March 03, 2015 5:58 PM 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 26 provinces, autonomous regions, and municipalities. It provides power to approximately 1,340,000 households and 5,090,000 people without electricity in remote areas. The company 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

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

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.

Investors Reportedly Eye Australian Electricity Networks

New South Wales and Queensland's electricity networks are up for bidding in 2015. Potential suitors include State Grid Corporation of China, Singapore Power Ltd, Borealis Infrastructure Trust, Canada Pension Plan Investment Board, Caisse de dépôt et placement du Québec, IFM Investors Pty Ltd and QIC Limited, Australian Financial Review reported.

JSC ROSSETI and State Grid Corporation of China Sign Three-Year Cooperation Agreement

JSC ROSSETI announced that Oleg Budargin, Director General of the company, and Du Chjigan, Deputy CEO of State GRID Corporation of China, have signed a three-year cooperation agreement for the reconstruction and development of electricity grids infrastructure. Under the agreement, the companies confirm their intention to establish a new joint venture in order to implement the modernization and construction of electric grid facilities in the Russian Federation. The agreement was signed in Moscow in the presence of the Russian Prime Minister, Dmitry Medvedev, and the Premier Minister of China, Li Keqiang, on October 13, 2014.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact State Grid Corporation of China, please visit www.sgcc.com.cn. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.