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State Grid Corporation of China (SGCC) to purchase stake in SP AusNet and Jemena; US Government approves major expansion in gas exports
The world's largest utility, State Grid Corporation of China (SGCC), this week made a major move into the Australian electricity sector - agreeing to purchase a 19.9 per cent stake in electricity distribution business SP AusNet valued at $824 million, in addition to a 60 per cent stake (undisclosed value) in Jemena from parent company Singapore Power. KEY: Energy, Utilities.
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