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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

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.

Government of Canada approves CAD1.6 billion for Wataynikaneyap Transmission Project 

July 22, 2019
The Government of Canada has awarded CAD1.6 billion federal funding for the Wataynikaneyap Transmission Project being developed by Wataynikaneyap Power, a licensed transmission company owned by 24 First Nations communities and FortisOntario Incorporated (FortisOntario)—a subsidiary of Fortis Incorporated, in Canada.

NextEra Energy acquires Trans Bay Cable 

July 18, 2019
NextEra Energy Transmission LLC has completed the acquisition of Trans Bay Cable (TBC) from SteelRiver Transmission Company, LLC—an indirect subsidiary of SteelRiver Infrastructure Fund North America.

Greystone and IST3 sign agreement to jointly acquire Canadian APL 

June 26, 2019
A consortium, comprising Greystone Managed Investments—a part of Canadian Greystone Infrastructure Fund LP, and IST3 Investment Foundation [on behalf of its investment group IST3 Infrastruktur Global (IST3 IG), a Swiss investment foundation], has entered into a definitive agreement to jointly acquire up to 100 per cent shares of Alberta PowerLine LP (APL), a partnership owned 80 per cent by Canadian Utilities Limited — an ATCO Group, and 20 per cent by Quanta Services, Inc.

Latin America

TAESA acquires 11.6 per cent share of BRASNORTE in Brazil 

August 15, 2019
Brazilian electric power transmission company, Transmissora Alianca de Energia Eletrica SA (TAESA), has acquired 11.6 per cent share of Brasnorte Transmissora de Energia S.A. (BRASNORTE) from Bipar Energia SA.

Argo Energia receives BRL152 million loan from BNDES for transmission project 

July 29, 2019
Reportedly, Argo Energia, controlled by Pátria Investimentos, has obtained a loan of BRL152.18 million from Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the National Bank for Economic and Social Development, to implement an electricity transmission project.

Colombian EPM completes first stage of divestment in ISA [free access]

June 26, 2019
Colombian public utilities firm Empresas Publicas de Medellin (EPM) has completed the first stage of divestment in local energy transmission company Interconexion Electrica (ISA).

Brazilian TAESA acquires four SPEs of Eletrobras [free access]

June 3, 2019
Brazilian electric power transmission company Transmissora Alianca de Energia Eletrica SA (TAESA) has completed the acquisition of four special purpose entities (SPEs) of state-owned power company Centrais Elétricas Brasileiras S.A. (Eletrobras).

Asia Pacific

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.

US’KKR and Singapore’s GIC acquire stake in Indian InvIT [free access]

April 30, 2019
US-based investment private equity giant KKR and Singapore’s sovereign wealth fund GIC Private Limited have acquired a combined stake of 42 per cent in India’s leading infrastructure investment trust (InvIT) India Grid Trust (IndiGrid) owned by Sterlite Power Transmission Limited.


Iran and Armenia sign MoU on energy cooperation 

July 3, 2019
Iran and Armenia have signed a memorandum of understanding (MoU) to expand economic cooperation between the two countries, at the end of the Iran-Armenia Joint Economic Committee meeting held in Tehran.

Ukrainian government approves EBRD loan of EUR149 million to modernise power network 

June 27, 2019
The Cabinet of Ministers of Ukraine has approved a EUR149 million loan from the European Bank for Reconstruction and Development (EBRD) for the modernisation of the power transmission network in the country.

Georgian GSE sign loan agreements with World Bank and KfW 

June 24, 2019
The Georgia's Joint Stock Company (JSC), Georgian State Electrosystem (GSE) has signed two financial agreements with International donor agencies—World Bank and the German KfW Entwicklungsbank (KfW Bank).

EIB to back 32 GWh battery project in Sweden 

May 15, 2019
The European Investment Bank (EIB) has given in-principle approval to a EUR350 million loan to back Sweden-based Northvolt AB’s plan for a gigafactory meant for lithium-ion battery cells in Sweden.

Middle East & Africa

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).

IDA approves USD420 million support for Mozambique’s TTP 

June 20, 2019
The International Development Association (IDA), the concessional financing arm of the World Bank, has approved a USD420 million grant and guarantee, for the implementation of Mozambique’s Temane Regional Electricity Project or the Temane Transmission Project (TTP).

EXIM Bank of Korea to loan USD170 million for transmission project in Ethiopia 

April 24, 2019
Ethiopia and the Export Import (EXIM) Bank of Korea have signed a concessional loan agreement of around USD170 million for the implementation of a transmission project for grid expansion in the Southern region of the country.

TCN receives USD170 million credit from AFD for Abuja Feeding Scheme 

April 12, 2019
The Transmission Company of Nigeria (TCN) has received credit of USD170 million from the Agence Française de Development (AFD) for financing the Abuja Feeding Scheme Project, aimed at reinforcing transmission capacity for reliable electricity supply around Abuja.