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CDB provides $3,321,682 loan to State Grid Brazil Holding S.A. (ETIM) in June 2014
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | State Grid Brazil Holding S.A. (SGBH) |
| Country | Brazil |
| Start Date | Jun 20, 2014 |
| End Date | May 28, 2028 |
| Duration | 5,091 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 60050 |
Grant Description
CDB loans $3,321,682 to State Grid Brazil Holding S.A. (ETIM) in June 2014 On June 20, 2014, China Development Bank provided a $3,321,682 loan to State Grid Brazil Holding S.A. for its subsidiary Expansion Transmissão Itumbiara Marimbondo S.A.(ETIM).
SGID, the guarantor of the loan, is a state-owned Chinese company that handles investment, construction, and operations of power grids.
State Grid International Development Co. Ltd (SGID) is named as guarantor and settled the amount on behalf of the company.
By way of background, in December 2010, State Grid Corporation of China acquired 100% stakes in seven Brazilian transmission concession companies through its wholly owned Brazilian subsidiary, State Grid Brazil Holding S.A. (“SGBH”), each with a secured 30-year operating right.
The assets in these companies at the time of acquisition included transmission lines with a total length of 3,176 km, six 500 kV substations, two 500 kV switching stations and one 345 kV substation. SGBH assumed responsibility for operating these 7 transmission companies.
Then, in May 2012, SGBH entered into an agreement to acquire another seven Brazilian transmission concession companies, each with a secured 30-year operating right.
The seven companies’ assets at the time of acquisition included transmission lines with a total length of 2,792 km, 11 self-owned substations and 12 substations jointly controlled with others.
These activities and other electricity transmission projects — including the 2,518 km Belo Monte ±800 kV UHVDC Transmission Project (or 巴西美丽山水电特高压直流送出二期项 or ±800千伏特高压直流输电工程) — have been supported by China Development through a series of loans.
On October 25, 2019, Chinese President Xi Jinping and Brazilian President Jair Bolsonaro held a meeting and signed an operation permit for the second phase of Brazil's Meishan Hydropower UHVDC transmission project.
This operation permit demonstrates that Chinese loans have continued to promote energy infrastructure development in Brazil.
Staff Comments
1. Resource 'RELATÓRIO DA ADMINISTRAÇÃO' only used to reference company abbreviation (ETIM) with company name (Expansion Transmissão Itumbiara Marimbondo S.A.)2. For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
Sources & References
- State Grid Brazil Holdings S.A.
- RELATÓRIO DA ADMINISTRAÇÃO
- 服务和推进“一带一路”建设 实现金砖国家互惠共赢
- Offering Memorandum from State Grid Europe Development
- 中国能建中南院参与设计巴西美丽山水电特高压直流送出二期项目投运
- State Grid Brazil Holding S.A.Established
- State Grid Completes Transmission Line Tests at Belo Monte Plant
- First Overseas UHV DC Transmission Project Put into Operation Ahead of Schedule In Brazil
- 巴西美丽山±800千伏特高压直流输电一期工程投运
- Brazil's Ministry of Mines and Energy and State Grid Co.
- Ltd. jointly signed the operation permit for the second phase of Brazil's Meishan Hydropower ±800 kV UHV Transmission Project
- Brazil's Meishan Hydropower Transmission Phase I and Phase II Projects Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
State Grid Brazil Holding S.A. (SGBH)
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