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China’s State Grid Overweighting 94.75% of Brazil’s CPFL

State Grid Corporation of China announced on 5th December 2017 that it would increase its share holdings of Brazil’s electric producer CPFL, a rise from 54.64% to 94.75%. In September, 2016, State Grid purchased 23.6% of CPFL’s share. And in January, 2017, State Grid increased its holdings of CPFL’s share, reaching 54.64%. CPFL remains the largest private electric power company and the largest distribution company in Brazil, which wholly owned eight distribution concessions, covering 7.8 million users and 247 thousand miles length of line. The annual distribution volume is 60 billion kWh, 13% of the distribution market share in Brazil. (Source: Renewable Energy News Today)