Deals
China Builds an Empire of Electricity With Australia as Target
- State Grid Corp. seen as a top contender to bid for Ausgrid
- Chairman envisages sending electricity via a global network
China's State Grid Eyes Australia
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It generates more revenue than Apple Inc. and Boeing Co. combined and serves one in seven people on the planet. Meet State Grid Corp. of China, a company that may be buying power assets near you.
While State Grid is hardly a household name, its geographic footprint extends from South America to Australia, where it’s a contender to acquire a stake in Sydney-based power network Ausgrid. Hungry to grow outside China, the company plans to develop a $50 trillion global energy network that could enable electricity to be transmitted beyond continental boundaries.