SGCC expects to invest $20B in Brazil in next 3 years

State Grid Corp. of China (SGCC) has become the largest power generation and distribution company in Brazil, according to its chairman Shu Yinbiao.

The world’s largest utility company has so far invested more than $20.9 billion in Brazil, and plans to double this figure in the next three years, reports China.org.

According to Shu, Brazil is working on transmitting electricity from hydropower stations in the Amazon region in the north to areas with huge demand such as the southern states of Sao Paulo and Rio de Janeiro.

Source: China.org