China State Grid buys into wind-rich South Australia network

Almost a quarter of South Australia's power last year was generated by wind

Dave Clarke

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By Dominique Patton Singapore

 Monday, December 03 2012

Updated: Friday, December 21 2012

China’s State Grid has acquired a 41% stake in Australian transmission company ElectraNet, in the latest move by the Chinese firm to expand its overseas assets.

ElectraNet operates South Australia state's power transmission grid. Almost a quarter of the state’s power last year was generated by wind, making the company the largest connector of wind in the country.

State Grid is reported to have offered around A$500m for the stake ($521m), previously owned by Queensland utility Powerlink. The deal is expected to complete by the end of the year, the Chinese company says in a statement.

It is the first Chinese investment in Australia’s electricity grid.

ElectraNet expects to see strong growth in power demand in South Australia…

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