China has expanded its position in Chile’s electricity industry with the acquisition of the country’s third-largest distribution firm, raising hopes of further investment. China’s State Grid is to pay $2.23 billion to buy the Chilean assets of San Diego-based Sempra Energy, including Chilquinta Energia, which supplies electricity to around two million consumers in central Chile, Sempra said Monday. The deal, which is expected to close during the first quarter of next year, also covers Sempra’s 100% interest in Tecnored, which provides electric construction and infrastructure services to Chilquinta and others and a 50% stake in Eletrans, which owns and operates transmission infrastructure.
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