More Mainland China investments in power and other utilities in Brazil are looming, says a report by Stratfor Worldview.

The report, published online, says infrastructure investment is likely to accelerate with the establishment of the US$20-bilion joint investment fund last week, known as the China Latin American Industrial Cooperation Investment Fund.

Stratfor says Mainland China companies have spent US$21 billion buying 21 Brazilian electricity companies since 2015, and it says more than US$20 billion will be invested in Brazil this year – a 68-percent increase over last year.

The State Grid Corp. of China bought a majority stake in Brazil’s third-biggest power company, CFPL Energia, for US$4.5 billion in January and Shanghai Electric Corp. is considering acquiring Brazilian power company Eletrosul for about US$1 billion, Stratfor says.