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Deal Watch

Reports on major debt, equity and M&A deals


North America Latin America Asia Pacific
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North America


NMPRC approves PNM’s acquisition of Western Spirit transmission project 

October 10, 2019
New Mexico Public Regulation Commission (NMPRC) has approved the acquisition of Western Spirit transmission project from Renewable Energy Transmission Authority of New Mexico (RETA) and San Francisco-based Pattern Energy Group 2 LP (doing business as Pattern Development), by Public Service Company of New Mexico (PNM) – the wholly-owned subsidiary of PNM Resources.

Indigenous communities agree to acquire 40 per cent shares of APL in Canada 

September 25, 2019
Seven indigenous communities have agreed to acquire a combined 40 per cent equity ownership in Alberta PowerLine LP (APL) for undisclosed financial terms.

Canadian government announces CAD6.8 million for transmission project in Labrador 

August 20, 2019
Canadian federal government has announced CAD6.8 million funding for a transmission line proposed by Nalcor Energy (owned by Government of Newfoundland and Labrador) to connect its Menihek hydro station with Tata Steel Minerals Canada's processing facility near the border of Newfoundland, Labrador and Quebec, where iron ore is mined.

US-based G&W Electric acquires Italian Altea 

August 14, 2019
Illinois-based electric power equipment supplier, G&W Electric, has acquired Italian voltage and current sensor manufacturer, Altea S.R.L., to expand its reach in electrical power grid automation.



Latin America


Chilean Chilquinta Energía acquires Eletrans SA 

November 5, 2019
Chilean distribution company Chilquinta Energía S.A. (a part of US-based Sempra Energy) has acquired of the remaining 50 per cent stake in Chilean transmission firm, Eletrans SA, from Sociedad Austral de Electricidad S.A. (SAESA).

Brazilian Chesf acquires 100 per cent stake in TDG 

November 1, 2019
Brazilian utility, Companhia Hidro Eletrica do Sao Francisco (Chesf) — a subsidiary of Centrais Eletricas Brasileiras SA (Eletrobras) — took control of Transmissora Delmiro Gouveia (TDG), after paying BRL34 million for a 27.69 per cent stake held by partner Future ATP Serviços de Consultiva Engenharia. As a result, TDB has become the wholly-owned company of Chesf.

Sempra Energy signs agreement to sell Chilean business to SGID 

October 14, 2019
San Diego-based Sempra Energy has entered into an agreement to sell its equity interests in its Chilean businesses to State Grid International Development Limited (SGID), a wholly-owned subsidiary of State Grid Corporation of China (SGCC).

Brazilian BNDES allots BRL1.76 billion loan for 525 kV project 

October 10, 2019
Brazilian state-owned Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the National Bank for Economic and Social Development has granted a loan of BRL1.76 billion to Chimarrao Transmissora de Energia, a special purpose vehicle (SPE) formed by Cymi Construções e Participações—a member of the Spanish group ACS, and the equity investment fund Brasil Energia—a member of the Canadian group Brookfield, to connect wind projects in the country's south to the grid.



Asia Pacific


ADB approves loan for improved power transmission in Indian state 

November 7, 2019
The Asian Development Bank (ADB) has approved a loan of USD451 million for the Chennai–Kanyakumari Industrial Corridor (CKIC): Power Sector Investment Project, which aims to improve power connectivity between the southern and northern parts of the CKIC in the Indian state of Tamil Nadu.

Indian IndiGrid acquires transmissions assets worth INR50 billion 

July 8, 2019
India’s leading infrastructure investment trust (InvIT), India Grid Trust (IndiGrid), owned by Sterlite Power Transmission Limited (SPTL), has completed the acquisition of two power transmission assets — Northern Region System Strengthening Scheme (NRSS)-XXIX Transmission Limited (NTL) and Odisha Generation Phase II Transmission Limited (OGPTL), valued at INR50.25 billion.

World Bank grants USD300 million loan to develop RE with battery storage in China 

June 11, 2019
The World Bank has approved a USD300 million loan for the China Renewable Energy and Battery Storage Promotion Project, which aims to augment the integration and use of renewable energy (RE) through the deployment of battery storage systems at scale.

IDA loans USD65 million for Pakistan’s component of CASA 1000 

June 4, 2019
The International Development Association (IDA), the concessional financing arm of the World Bank, has approved a loan of USD65 million for the additional financing required to complete Pakistan’s infrastructure component of the Central Asia-South Asia Electricity Transmission and Trade Project (CASA) 1000.



Europe


Ukraine’s Ukrenergo signs agreements with EBRD and IFC on developing grid, energy storage 

October 29, 2019
Ukraine’s vertically-integrated power utility, Ukrenergo, has signed two key agreements for the development of the energy sector, in the framework of the “RE:THINK, Invest in Ukraine”.

NIB provides EUR100 million to Norway's Statnett for grid upgrade 

October 22, 2019
The Nordic Investment Bank (NIB) has provided a loan of EUR100 million to Norway’s transmission system operator (TSO) Statnett to finance the expansion and upgrade of the grid in the country.

Romania's Transelectrica receives EUR33 million funding for 400 kV line [free access]

October 3, 2019
The Romanian national power grid operator, Transelectrica SA, has signed a EUR33.43 million financing contract for the construction of the 400 kV Gutinaș–Smârdan double-circuit overhead line (OHL).

EC approves EUR530 million funding for Ireland–France link 

October 2, 2019
The European Commission (EC) has given its green light for EUR530 million funding for the 700 MW Celtic Interconnector project between Ireland and France.



Middle East & Africa


AfDB grants EUR138 million for Tunisian STEG’s PAERTE 

October 15, 2019
The African Development Bank (AfDB) has approved financial support worth EUR138 million for Tunisia’s state-owned Société Tunisienne de l'Electricité et du Gaz (STEG) for the implementation of the Projet d’Aménagement et d’Équipement du Réseau de Transport d’Électricité (PAERTE) or the Transmission Network Development and Equipment Project.

IDA approves USD57 million financing for Mozambique–Malawi link [free access]

September 17, 2019
Recently, the International Development Association (IDA), the concessional financing arm of the World Bank, has approved financial support worth USD57 million for the Mozambique–Malawi Transmission Interconnection Project.

German KfW to extend financial support for Mozambique–Malawi interconnection 

August 19, 2019
The German KfW Entwicklungsbank (KfW Development Bank) will extend financial support for the implementation of Mozambique’s component of the Mozambique–Malawi Transmission Interconnection Project.

IsDB approves USD100 million loan for Mozambique’s Temane Transmission Project 

July 11, 2019
The Islamic Development Bank (IsDB) has approved a soft loan of USD99.7 million for funding Mozambique’s Temane Transmission Project (TTP).