State Grid Corporation of China sets up first office in DIFC

China’s leading state-owned electric utility corporation, State Grid Corporation of China (SGCC) has expanded its presence in the region by setting up their first office in Dubai International Financial Centre (DIFC).

The newly established entity 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.

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 $23.2bn and its overseas equity capital is approximately $65bn. 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.

#DIFC is pleased to announce the expansion of State Grid Corporation of China @SGCCofficial in the region as they set up their new office at the Centre.

Read more: https://t.co/ZO30tPlzvD. pic.twitter.com/tqyHaBI862

— DIFC (@DIFC) August 29, 2022

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, is in a strong position to support the country and the wider region to realise these ambitions.”

Chengzhong Liang, chief representative of SGCC Middle East said, “Establishing our presence in DIFC marks a very important milestone for us to expand our presence in the Middle East market, especially in the GCC countries, such as the UAE and Saudi Arabia, which are in key stages of energy transition.We, at SGCC, believe that we are in a unique position to contribute to the regional energy transition and capacity building efforts, particularly in the field of electricity transmission and distribution, and we are keen to work closely with local authorities and companies for a more sustainable future.”