The State Grid Corp. of China will increase its overseas holdings to as much as $50 billion by 2020 from its current $8 billion as it seeks new markets in the Philippines, Brazil and Portugal.
State Grid Corp., reportedly one of the largest state-owned utilities in the world, invested more than $5 billion overseas, where its assets are now worth about $8 billion. These international investments reportedly have netted the company more profits than its domestic holdings.
The corporation has opened offices in nine countries in the Americans, Africa and Europe. It operates a grid spread out over 6,500 square miles.