This state-owned company is the world’s largest electric utility company and holds a monopoly in China. The core of its business revolves around constructing and operating power grids. State Grid was founded in 2002, a byproduct of China’s three-stage power sector reform that started in 1986. The reform separated the former State Power Corporation of China into two grid companies, resulting in the emergence of State Grid. The company now owns and manages five regional power grid companies and 24 electric power companies. In June, the company managed to run the Qinghai province on 100% renewable energy for seven days as part of a trial.
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Key Metrics & Financials (Last Fiscal Year)
|Revenue Percent Change||-4.4%|
|Profits Percent Change||-6.2%|
|HQ Location||Beijing, China|
|Years on Global 500 List||17|
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