The Administrative Council for Economic Defence has approved the purchase of a 20% minority stake in State Grid International Singapore Private Limited by the China-LAC Industrial Cooperation Investment Fund, through a wholly-owned investment vehicle called Ceiba Green. 

According to the parties, the aim of the deal is to support competitive industries in China to meet the demands of Latin American countries and to increase capacity and co-operation between the regions in equipment manufacturing, as well as to provide financial sustainability in the medium and long term. 

The CLAl Fund was founded by the Chinese government as a medium to long-term investment and development channel, focusing on opportunities in the clean energy, infrastructure, industry, energy and mining, agriculture and financial co-operation sectors in Latin America. In Brazil, the companies owned by the fund, directly or indirectly, with control or participation of at least 20% of the share capital or voting rights, operate in the generation and commercialisation of electricity.

(Source: Canal Energia)