For a decade, China’s major electricity companies have been laser focused on energy generation and transmission in Latin America and the Caribbean, a trend accelerated by the departure of Western competitors, including Brazil-based Odebrecht and U.S. and European companies.
The latest evidence is a new, sizable deal in Peru, where the Italian company Enel is downsizing its presence. China Southern Power Grid, established alongside Chinese energy giant State Grid in 2002, is looking to fill that gap. The company is reportedly preparing a bid for Enel’s Peruvian energy distribution assets, valued at $3 billion.
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