October 17, 2019 / 3:39 PM / a month ago

China's State Grid mulls participating in Eletrobras' privatization in Brazil: CEO

RIO DE JANEIRO (Reuters) - Chinese power company State Grid is considering participating in the privatization of Brazilian state-run energy firm Eletrobras SA (ELET6.SA), Brazil Chief Executive Chang Zhongjiao said on Thursday.

“About Eletrobras there is no detailed information, if it is in accordance to our expansion plan, why not?” he told journalists in Rio de Janeiro.

“I keep saying there is not an ideal or single model that we could consider. We need more details to start pondering,” the executive added.

According to him, State Grid plans to continue investing in Brazil via public concessions, such as a December auction for transmission lines, or new acquisitions. Since 2010, State Grid has invested $12.4 billion reais, or 60% of the its non-China investments in the period.

Reporting by Rodrigo Via Gaier; Writing by Gabriela Mello; Editing by Chizu Nomiyama

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