The acquisition was announced on the website of the Chinese Commission for the Supervision and Administration of State Assets (www.sasac.gov.cn).
The Grid acquired the license to operate for 30 years, transmission lines and other types of intraestructure in the Southwest of the country. The company also provide power distribution boards for cities such as Brasilia, Rio de Janeiro and Sao Paulo.
The purchase is part of a serie of investments that the company has been doing in Latin America, betting on growth in electricity consumption in the region.
This is the second largest purchase made by the Grid out of China after the purchase of transmission lines in the Philippines in 2009.
Under the agreement, the State Grid will have more than $ 110 million in annual profits, according to the statement on the website of the commission.
"The operation will help promote the region's economic development, expand the influence of Chinese enterprises and promote the bilateral strategic relations between the two countries," said the statement.
The stable political environment is cited by the company as an advantage of investing in Brazil, as well as “a great potential of development and an huge market, with a demand of electric energy that it is just raising”.
According to the National Agency of Electric Energy (Aneel, the acronym in Portuguese), there are in the list of the companies purchased by the Chinese Group: Ribeirão Preto Energy Transmitter, Poços de Caldas Energy Transmitter, Serra Paracatu Energy Transmitter, Itumbiara Energy Transmitter, Serra da Mesa Energy Transmitter, Itumbiara Marimbondo Expansion Transmitter and Electric Energy Expansion Transmission.
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