China deepens interest in Brazil’s power market

State Grid Corp of China is again focusing on Brazil’s electricity transmission line business, as it seeks to buy the Brazilian electricity transmission assets of Spain’s Actividades de Construcción y Servicios for $531m plus debt of $411m.

The latest deal is State Grid’s second acquisition in Brazil, according to FT, where it previously bought seven electricity transmission lines for $1bn in 2010.

Brazil

State Grid has also been reported to be interested in buying a 39 per cent stake held in another Brazilian power holding company, Neoenergia, that is held by Spain’s Iberdrola.

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