The Saudi Electricity Company has signed a $1.1bn deal with State Grid Corporation of China (SGCC), to provide it with 10mn smart meters in Saudi Arabia. Part of the Belt and Road Initiative, China’s strategic plan to invest in infrastructure globally, this deal was swiftly followed by SGCC taking a 49% stake in Oman Electricity Transmission Company for a rumored $1bn. On the one hand, SGCC is simply looking to expand its reach as the world’s largest utility, and become a valued technology and service provider for other utilities and grid operators globally. On the other hand, SGCC is clearly a vehicle for China’s geopolitical ambitions, with Eurasia, the Middle East, and Africa key expansion targets. SGCC says this is…