China's State Grid gets stake in Australian grid

Chinese firms in Australia's power transmission.

This is a new start for Chinese companies marked by State Grid Corporation of China succesful bid for a stake in ElectraNet, South Australia's sole power transmission network.

The stake is held by Powerlink, a Queensland public-sector electricity transmission firm.

The deal will be completed by the end of the year, the corporation said.

Media reports said it gives SGCC around a 40-percent stake in ElectraNet.

The move follows a number of other similar overseas deals made by the SGCC in the Philippines, Brazil and Portugal.

The SGCC will bring its technology and management skills to ElectraNet.

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