State Grid to enhance energy teamwork with Brazil

The State Grid has vowed to enhance energy cooperation with Brazil, including opportunities for new power transmission projects and new energy development projects, said Kou Wei, chairman of the State Grid.

The two sides share a mutual advantage in the fields of energy resources and technology, said Kou.

According to Kou, the company, which runs the majority of China's electricity distribution networks, will strive to further strengthen its grid construction efforts to get actively involved in local power projects.

The State Grid Corp of China reported earlier that its second phase of the Belo Monte ultrahigh voltage power project in Brazil, spanning more than 2,500 kilometers, is likely to start commercial operations by the third quarter of this year.

The Vice-Minister of Commerce Wang Shouwen, also deputy China International Trade Representative, said Chinese investment in Brazil has reached $60 billion, with some 300 Chinese enterprises currently active in the country's energy, finance, engineering construction, agriculture, communication and manufacturing industry.

Brazil has become the largest destination for Chinese companies in fields of investment, he said.