State Grid Corp of China has become the largest power generation and distribution company in Brazil, its chairman Shu Yinbiao said on Monday.

The world's largest utility company and the second largest in the Fortune Global 500 has invested more than $20.9 billion in Brazil so far, a figure which is expected to double in the next three years, he said.

According to Shu, Brazil, which is working on transmitting electricity from hydropower stations in the Amazon region in the north to areas with huge demand such as the southern states of Sao Paulo and Rio de Janeiro, has a lot in common with China, as both have a vast territory with energy consumption centers far from the resources.