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July 07, 2015 6:29 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 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

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: 57
Executive Vice President and Deputy General Manager
Compensation as of Fiscal Year 2015.

State Grid Corporation of China Key Developments

Deutsche Australia & UBS To Call EOI For TransGrid

NSW government, Deutsche Australia Limited and UBS AG, Australia Branch are preparing to call formal expressions of interest for TransGrid. There are eight known bidding camps, out of which only four or five expected to be taken through to TransGrid's auction. The biggest concern is engineers and each of the consortiums have either lined up or will line up technical engineering advisers, whose diligence will form the base of the eventual offer. The decision to choose four or five bidders is a difficult one. WorleyParsons Limited (ASX:WOR), sell-side advisor will release a report to bidders once confidentiality agreements are signed and the auction gets serious. A consortium including Hastings Funds Management Limited, Spark Infrastructure Group (ASX:SKI), Abu Dhabi Investment Authority, Caisse de dépôt et placement du Québec and Wren House Infrastructure is expected to be approved for the auction. QIC Limited, IFM Investors Pty Ltd along with Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038) are expected to present a strong case. This most likely leaves only one spot for a China-backed consortium which could be- State Grid Corporation of China along with MIRA or China Southern Power Grid Co.,Ltd. with Global Infrastructure Partners or Singapore Power Ltd along with AusNet Services (ASX:AST).

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.

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