State Grid to intensify efforts for overseas expansion

State-owned State Grid Corp of China, the largest utility company in the world, is looking to make further inroads in global markets after its success with energy and transmission projects in Brazil, Australia and the Philippines, a top official said on Friday.

Shu Yinbiao, chairman of State Grid, said the company will strive to further strengthen its grid construction efforts, including power transmission and transformation engineering construction, to get actively involved in local power projects. He said this while attending the 82nd annual conference of the International Electrotechnical Commission in Busan, South Korea.

The company's total overseas assets under management were $65.6 billion to date, while the total overseas construction contract value was $41 billion. According to Shu, the company has been able to achieve this due to its world-leading technology and abundant engineering experience in long-distance power transmission, large-scale grid construction and operation, and smart grids and micro grids.