State Grid Corporation of China plans to invest 15 billion reals (US$3.98 billion) over the next five years in Brazil, the newspaper Valor Económico reported this week.

According to the media outlet – quoted by Portuguese newspaper Jornal de Negócios –, the amount includes an investment of around 10 billion reals in two power transmission lines that will transport the electricity produced at Brazil’s Belo Monte hydroelectric facility.

State Grid’s global investment goals for the next five years include the winning of operational contracts for power lines in Brazil under a bidding process to be launched by the Brazilian Electricity Regulatory Agency (Aneel).

Cai Hongxian, General Manager of Brazilian subsidiary State Grid Brazil, said – as quoted by the newspaper – the company plans to invest 1.6 billion reals in Brazil in 2016 alone.

China State Grid entered the Brazilian market in 2010. Since then, it has invested 9.7 billion reals in the South American country, according to the news outlet.