China’s State Grid, a state-owned electricity producer and distributor, hopes to invest US$5 billion in Brazil by 2015, according to Cai Hongxian, the head of the company’s Brazilian unit. Mr. Cai stated that while State Grid has prospected for acquisitions, no viable candidates have emerged. Since entering Brazil through the purchase of a local firm, State Grid has won most of its business in the country through auctions. With strong financial support from the Chinese government, State Grid hopes to build generator substations and grid connections for hydropower.

Related News in Chinese:
国家电网计划到2015年向巴西投资50亿美元

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