State Grid Corporation of China has made its second acquisition in Brazil with the purchase of the electricity transmission assets of Spanish company Actividades de Construcción y Servicios (ACS).
The Chinese company’s subsidiary, State Grid International Development Ltd (SGID) says that it will pay $530 million for a total of seven electricity transmission assets spanning five voltage levels with a total length of 2792 km.
Most of the assets are already in operation, while those that are still being constructed will be operational by the end of the year, SGID said in a statement.
The acquisition will expand State Grid’s market share in Brazil, where it bought seven electricity transmission lines in 2010. The company has also bought a 25 per cent share in REN, Portugal’s national energy network company.
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