State Grid Corp. of China has become the largest generator and distributor of electricity in Brazil, the China Daily reports.
The Chinese government-run newspaper quotes State Grid Chairman Shu Yinbiao as saying his company has invested over US$20.9 billion in Brazil and expects to double its investment there in the next three years.
Mr Shu said Brazil and China had much in common, both being vast countries where energy was consumed far from its sources.
He said Brazil was endeavouring to supply places where demand for electricity is high, such as the southern states of São Paulo and Rio de Janeiro, with the output of hydroelectric power stations in the Amazon region in the north, and that Chinese ultra-high voltage transmission technology was helping make this practical, the China Daily says.
