China’s SGID to Become Major Player in Chilean Electricity Market (The Asset)

Chilquinta deal, valued at US$2.23 billion, is latest move by Chinese electricity companies in South America

CHINA’S State Grid International Development Limited (SGID) is about to become a major player in the Chilean electricity market, with the previously announced deal to acquire assets from California based Sempra Energy expected to close on June 24. The all cash deal is valued at US$2.23 billion.

Chilquinta Energia is the third largest distributor of electricity in Chile, providing electricity to approximately 2 million people in the central regions of Valparaiso and Maule. It is also active in the development and operation of electric transmission lines.

The Chilquinta deal is the latest move by Chinese electricity companies in South America, where China has become the dominant foreign investor. READ MORE

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