State
Grid,
like
many
other
big,
aggressive
grid
operators,
has
decided
to
move
beyond
its
national
market
to
take
advantage
of
higher
returns.
It
now
has
a
presence
in
Brazil,
Venezuela
and
the
Philippines,
and
earlier
this
year
it
paid
$485m
for
a
25%
stake
in
Portugal’s
national
grid
company,
Redes
Energéticas
Nacionais
(REN).
It
is
also
reported
to
have
had
a
bid
for
a
stake
in
Spanish
grid
operator
REE
turned
down
by
regulators
because
of
rules
that
limit
the
amount
of
shares
that
can
be
owned
by
any
single
private
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