China’s State Grid Corporation is aggressively pushing into MENA: The State Grid Corporation of China (SGCC) — the world’s largest public utility — has set up its regional office in the Dubai International Financial Center (DIFC), according to a DIFC statement. The move could herald new regional investments in utility-scale renewables, as SGCC plans to pursue new business as the region kickstarts its energy transition — with investment, construction and operation of power grids as its core areas of business, the DIFC statement adds.

This marks the beginning of regional expansion for SGCC: Establishing its office in DIFC is a key step in SGCC’s MENA expansion plans — “especially in the GCC countries, such as the UAE and Saudi Arabia, which are in key stages of energy transition,” Chengzhong Liang, chief representative of the SGCC Middle East Representative Office, is quoted in the statement as saying.

And a potential decarbonization push for the UAE: The UAE is investing heavily in renewable energy and SGCC “is in a strong position to support the country and the wider region to realize these ambitions,” DIFC Authority CEO Arif Amiri is quoted as saying. SGCC is keen to work closely with local authorities and companies on the regional energy transition and capacity building efforts, the DIFC statement quotes Liang as saying.

This isn’t SGCC’s first rodeo in the GCC: One major regional investment was its March 2020 USD 1 bn acquisition of a 49% stake in Oman Electricity Transmission Company from the country’s state-owned Nama Group.