China’s grid giant expands presence via DIFC to advance region’s energy transition

State Grid Corporation of China (SGCC), the largest utility company in the world, has expanded its presence in the region by setting up its first office in Dubai International Financial Centre (DIFC).

The Chinese state-owned electric utility corporation will support the region in advancing its energy transition with a focus on electricity transmission and distribution with investment, construction and operation of power grids as its core business.

Arif Amiri, CEO of DIFC Authority, said: “DIFC continues to attract companies from across the world who can contribute to our future economic growth, including China’s State Grid who have now established their presence in the Centre. Through the UAE Net Zero by 2050 Strategic Initiative, the country is investing heavily in renewable energy to safeguard the future for generations to come. China’s State Grid, the world’s largest utility company, is in a strong position to support the country and the wider region to realise these ambitions.”

SGCC has successfully invested in utilities in Oman as well as internationally in Italy, Portugal, Greece and the Philippines, in addition to operating backbone energy networks in Brazil, Australia and Chile.

The total overseas investments amount to $23.2 billion and its overseas equity capital is approximately $65 billion. Furthermore, the UAE and China have long-standing relations and share a strategic vision to cooperate in energy, technology, the green economy and the digital economy.

As a long-term industry investor, SGCC upholds the concept of sustainable development and adheres to long-term, localised and market-oriented operations. Relying on local management teams, the grid giant strengthens technical exchanges and cooperation, actively fulfils its corporate social responsibilities, promotes local employment and spares no effort to create economic, social and environmental benefit for local communities.