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State Grid Corporation of China company logo
Government
ENERGY & UTILITIES | Electric
sgcc.com.cn

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Investments

4

Portfolio Exits

1

Funds

1

Partners & Customers

10

About State Grid Corporation of China

State Grid Corporation of China is a state-owned company that invests in, constructs, and operates power grids.

State Grid Corporation of China Headquarters Location

86 Changan Street West Town Area

Beijing, Beijing,

China

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Latest State Grid Corporation of China News

China Reaps Energy Windfall As West Shuns Russian Supplies

Sep 14, 2022

Power lines and wind turbines are pictured at a wind and solar energy storage and transmission power station of State Grid Corporation of China, in Zhangjiakou of Hebei province, China, March 18, 2016. China is buying more and less expensive energy supplies from Russia this year, reaping the benefits of a plunge in European purchases just when Beijing needs it most as the Ukraine crisis pushes Moscow in search of alternative markets. The growing cooperation, to be further deepened with Chinese President Xi Jinping's meeting with Russia's Vladimir Putin in Uzbekistan on Thursday, is a boon for both countries. China has gained access to cheaper energy while Russia is able to offset losses from the European Union and other allies scaling back on purchases of Russian exports due to sanctions over its invasion of Ukraine. Moscow calls it a special military operation. China electricity imports from Russia https://fingfx.thomsonreuters.com/gfx/ce/zjvqkroeevx/Pasted%20image%201663045687937.png Closer Chinese-Russian ties have also promoted the use of their yuan and rouble currencies in commodities trade, lessening reliance on the U.S. dollar. China, the world's largest energy consumer and top buyer of crude oil, liquefied natural gas and coal, has imported 17% more Russian crude between April and July from the same period a year ago. It has also bought over 50% more LNG and 6% more coal from Russia during the same period while electricity imports from Russia, mainly via a cross-broader transmission line connecting northeast China and Russia's Far East, soared by 39%. China's oil, gas, coal and electricity purchases from Russia amount to $43.68 billion so far this year. Russia crude exports to China https://fingfx.thomsonreuters.com/gfx/ce/dwpkrxladvm/Pasted%20image%201663045135075.png Cheaper Russian energy supplies are helping to dampen inflation in China, where the economy narrowly avoided contracting in the second quarter amid COVID-19 lockdowns. "The upcoming meeting between Xi and Putin will likely fortify China's ties with Russia in energy trade for mutual benefit, particularly at a time when Russia (is) grappling with intensified western sanctions while China is in need of low-cost energy to shore up its sagging economy tarnished by COVID lockdowns," said Zhuwei Wang, manager, Asia Oil Analytics, S&P Global Commodity Insights. PROFITABLE TRADE Russia became China's top crude supplier from May to July, accounting for 19% of China's imports, versus 15% in the same period of 2021, Chinese customs data showed. Moscow's share could grow to more than 20% this year, Dutch bank ING said in August. China saved about $3 billion in buying Russian oil versus other imports between April and July, according to Reuters calculation based on customs data. On average, China paid about $708 per tonne for Russian crude while the value of imports from the rest of countries was $816 per tonne. For LNG, China's imports from Russia rose 26% in the first seven months from the same period a year earlier while exports jumped to 66,798 tonnes in July, the highest since 2019, on re-exports to Europe and Japan, the data showed. China's LNG imports from Russia 2019-2022 https://fingfx.thomsonreuters.com/gfx/ce/lgpdwdqwgvo/China's%20LNG%20imports%20from%20Russia.JPG "China is taking advantage of the disrupted trade flows, including by buying discounted Russian oil and LNG cargoes, while swapping out alternative volumes back into Europe at higher prices, delivering a profitable trade," said Saul Kavonic, head of Integrated Energy and Resources Research at Credit Suisse. China also has long-term incentives for Russian supply as it strives to meet new carbon emissions targets and boosts gas consumption. That prompted a February deal for a new pipeline from Russia to start in the next two to three years. BUILDING COAL STOCKS China's coal imports from Russia jumped to their highest in at least five years in July, as it bought discounted coal while Europe shunned Russian cargoes ahead of a ban that came into force on Aug. 11. Russian thermal coal with a heating value of 5,500 kilocalories (kcal) traded around $150 a tonne on a cost-and-freight basis in late July, while coal of the same quality at Australia's Newcastle port was assessed at more than $210 a tonne on a free-on-board (FOB) basis. Russian coal gains market share in China https://fingfx.thomsonreuters.com/gfx/ce/znpnewnzqvl/China's%20coal%20imports%20from%20Russia.png Though Russian supplies meet only about 1% of Chinese needs, some traders expect more Russian coal to arrive in the fourth quarter when utilities build stocks for the winter heating season. Analysts said that while the gains for China are clear, Russia remains more reliant on the trade than China. "However the war is resolved, it is apparent that Russia can no longer rely on its major energy export markets in Europe for the foreseeable future, and the redirection of its energy and commodity exports towards the East will gather pace," Tilak Doshi, managing director of Doshi Consulting, said. ($1 = 6.9294 Chinese yuan)

State Grid Corporation of China Investments

4 Investments

State Grid Corporation of China has made 4 investments. Their latest investment was in Deer Technology as part of their Series A on August 8, 2021.

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State Grid Corporation of China Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/13/2021

Series A

Deer Technology

$182.18M

Yes

5

12/17/2019

Corporate Minority

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$99M

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10

8/9/2019

Corporate Minority

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$99M

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10

11/30/2017

PIPE

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$99M

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10

Date

8/13/2021

12/17/2019

8/9/2019

11/30/2017

Round

Series A

Corporate Minority

Corporate Minority

PIPE

Company

Deer Technology

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Amount

$182.18M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

5

10

10

10

State Grid Corporation of China Portfolio Exits

1 Portfolio Exit

State Grid Corporation of China has 1 portfolio exit. Their latest portfolio exit was CSG Energy on January 19, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/19/2021

IPO

$99M

Public

2

Date

1/19/2021

Exit

IPO

Companies

Valuation

$99M

Acquirer

Public

Sources

2

State Grid Corporation of China Acquisitions

1 Acquisition

State Grid Corporation of China acquired 1 company. Their latest acquisition was Sempra Energy - Chilean Business on October 31, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/31/2019

$99M

Acquired Unit

2

Date

10/31/2019

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired Unit

Sources

2

State Grid Corporation of China Fund History

1 Fund History

State Grid Corporation of China has 1 fund, including 国网新兴产业基金母基金 (State Grid Emerging Industry Fund of Funds).

Closing Date

Fund

Fund Type

Status

Amount

Sources

国网新兴产业基金母基金 (State Grid Emerging Industry Fund of Funds)

1

Closing Date

Fund

国网新兴产业基金母基金 (State Grid Emerging Industry Fund of Funds)

Fund Type

Status

Amount

Sources

1

State Grid Corporation of China Partners & Customers

10 Partners and customers

State Grid Corporation of China has 10 strategic partners and customers. State Grid Corporation of China recently partnered with Wanchain on March 3, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

3/30/2021

Vendor

Singapore

1

12/15/2020

Vendor

France

Safran signs by-the-hour support contract with State Grid General Aviation Company

Safran Helicopter Engines signs by-the-hour support contract with State Grid General Aviation Company .

1

12/15/2020

Vendor

France

Safran signs by-the-hour support contract with State Grid General Aviation Company

Safran Helicopter Engines has signed a Support-By-Hour contract with State Grid General Aviation Company , covering their H215 and H225 fleets .

1

10/23/2020

Partner

China

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10

6/16/2020

Partner

Germany

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10

Date

3/30/2021

12/15/2020

12/15/2020

10/23/2020

6/16/2020

Type

Vendor

Vendor

Vendor

Partner

Partner

Business Partner

Country

Singapore

France

France

China

Germany

News Snippet

Safran signs by-the-hour support contract with State Grid General Aviation Company

Safran Helicopter Engines signs by-the-hour support contract with State Grid General Aviation Company .

Safran signs by-the-hour support contract with State Grid General Aviation Company

Safran Helicopter Engines has signed a Support-By-Hour contract with State Grid General Aviation Company , covering their H215 and H225 fleets .

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Sources

1

1

1

10

10

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