Chinese State Grid Corp. completes 49% equity acquisition of Omani transmission company
MUSCAT, OMAN - State Grid Corporation of China (SGCC) has completed the 49% equity acquisition of Oman Electricity Transmission Company OETC on March 11.
As a technical partner, SGCC will make use of its technologies and experience in grid operations management with its local partners in the region to continue improving the operational safety and distribution capacity of the country's electric grid, reports NS Energy.
Since 2008, SGCC has successively acquired stakes in the Philippines (NGCP, 40%), Portugal (REN, 25%), Australia (46.56% of ElectraNet, 60% of SGSPAA and 19.9% of AusNet), Hong Kong SAR (HKEI, 21%), Italy (CDP Reti, 35%), Brazil (CPFL, nearly 85%), Greece (IPTO, 24%) and Oman (OETC, 49%).
Source: NS Energy
