The Chinese state-run energy company China State Grid Corporation plans to invest BRL140bn (roughly US$38bn) in the Brazilian electricity sector over the next 5 years, in particular in the power generation and transmission (BRL90bn, US$24bn) segments.
China State Grid Corporation is present in the country through its stake in CPFL, which is the largest power distribution company in Brazil since 2016 through the acquisition of eight companies. Its share in the power distribution sector at the end of 2016 reached 14.3% while sales stood at 65 TWh, with a total customer base of 10.4 millions in the states of São Paulo, Rio Grande do Sul, Parana and Minas Gerais.
In July 2016, China State Grid International (State Grid Corp of China) took a 23% stake in CPFL from Camargo Correa for US$1.8bn and acquired an additional 29.4% in September 2016 for US$2.3bn from Previ, now reaching a 52.6% majority interest.