On July 26, 2021, State Grid Corporation of China successfully completed the equity delivery and operation takeover of Chile's CGE Company. Since the company signed an equity purchase agreement with the seller Spanish Energy Group in November 2020, it has overcome the impact of the new crown epidemic and carefully planned the preparations for the delivery, and finally realized the smooth delivery and smooth takeover of the project.

Belt and Road power grid construction

The transaction was carried out by tender offer, and a total of 97.145% of the shares of CGE were acquired, including 96.04% of the shares held by the Spanish Energy Group and approximately 1.105% of the shares circulated in the market. CGE is the largest power distribution company and the second largest power transmission company in Chile. The power transmission and distribution business covers 14 out of 16 regions in Chile. It has 3,647 kilometers of transmission lines, 65,000 kilometers of distribution lines, and 300 power distribution users. Ten thousand households.

After the successful completion of the project, the company invested and operated two important power transmission and distribution companies, CGE and Chiquinta, in Chile, further consolidating and expanding the company's influence in the energy sector in Chile and Latin America. The company will continue to uphold the "market-oriented, long-term, localized" business philosophy, give full play to its comprehensive advantages in technology, management and credit, deepen the synergy between Chilean assets, continuously improve the level of Chilean power grid operations, and continue to improve power supply services Quality helps Chile’s economic and social development.

Critical period: reorganization of central enterprises, reports of central enterprises

The successful acquisition of CGE is another fruitful result of the company’s service and implementation of the Belt and Road Initiative. It promotes the company’s “one body and four wings” development layout, builds a benchmark for central enterprises in the Belt and Road Initiative, and builds a leading international energy Internet enterprise with Chinese characteristics. Important move. So far, the company has successfully invested and operated 13 backbone energy network assets in 8 countries including the Philippines, Brazil, Portugal, Australia, Italy, Greece, Oman, Chile and Hong Kong, China. All investment projects have been operating smoothly and all are profitable.Editor/Xing Wentao