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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


Canadian Hydro One and US’ Avista receive antitrust clearance for their merger 

April 10, 2018
Toronto-based Hydro One Limited (Hydro One) and Washington-based Avista Corporation have received the antitrust clearance for their proposed merger, owing to the expiration of the 30-day waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976, thus, satisfying a closing condition of the impending transaction.

GridLiance acquires transmission assets of city of Nixa [free access]

April 4, 2018
South Central MCN LLC, a subsidiary of GridLiance Holdco, LP (GridLiance)—an independent transmission company, has received approval from Federal Energy Regulatory Commission (FERC) to acquire transmission assets of the city of Nixa.

NYPA secures funding from New York State for transmission expansion 

February 5, 2018
New York Power Authority (NYPA) has secured funding worth USD24 million from New York State for its St. Lawrence–Franklin D. Roosevelt (FDR) Power Project.

Hydro One and Avista receive FERC approval to merge businesses 

January 17, 2018
Toronto-based Hydro One Limited (Hydro One) and Washington-based Avista Corporation have received the approval from Federal Energy Regulatory Commission (FERC) for their merger application, filed in September 2017.



Latin America


China Southern Power Grid acquires 27.7 per cent stake in Chilean Transelec 

March 15, 2018
China Southern Power Grid has received final approvals from the government of China to purchase Canada-based Brookfield Infrastructure’s stake in Chile’s largest electric transmission system, Transelec.

Grupo Argos to sell stake in Colombian EPSA [free access]

February 15, 2018
Colombian conglomerate Grupo Argos is selling its 100 per cent stake in Colombian electricity company Empresa de Energia del Pacifico S.A. E.S.P. (EPSA) to its unit Celsia S.A. E.S.P.

Brookfield Infrastructure to sell shares of Chilean Transelec to Chinese CSG 

December 26, 2017
Canada-based Brookfield Infrastructure has signed definitive agreements to sell its approximate 27.8 per cent interest in ETC Transmission Holdings, S.L.—the parent company of Chilean Transelec S.A., to China Southern Power Grid International (CSG) Company Limited for USD1.3 billion.

Colombian EEB sells off 100 per cent shares in ISA 

December 25, 2017
Energia de Bogota S.A. E.S.P. (EEB), the parent company of Colombia's Grupo Energía Bogotá (GEB), has sold 85.3 per cent of its shares in Colombian Interconexion Eléctrica S.A. (ISA) for more than COP220 billion.



Asia Pacific


Bangladesh and World Bank sign USD450 million loan agreement 

April 10, 2018
The government of Bangladesh has signed a loan agreement worth USD450 million with the World Bank for implementation of the ‘Enhancement and Strengthening of Power Transmission Network in Eastern Region Project’ in Bangladesh.

Pakistan government signs USD260 million loan agreement with ADB 

March 20, 2018
The Pakistan government and the Asian Development Bank (ADB) have signed a loan agreement worth USD260 million as a part of the Second Power Transmission Enhancement Investment Programme aimed to improve Pakistan’s power transmission network.

Indian PFC provides loan to state power utilities 

February 28, 2018
Indian central government-owned Power Finance Corporation (PFC) has signed a memorandum of understanding (MoU) with Indian state Uttar Pradesh’s power utilities for a loan worth INR502 billion.

IndiGrid signs agreement for acquisition of four transmission assets in India 

February 19, 2018
IndiGrid, India’s first infrastructure investment trust (InvIT) in the power sector, has signed a definitive agreement for the acquisition of transmission assets of Patran Transmission Company Limited (PTCL) from Techno Electric & Engineering Company Limited at an estimated value of INR2.32 billion.



Europe


Belgian Elia set to acquire 20 per cent stake in Eurogrid 

March 23, 2018
The Belgian power transmission system operator (TSO) Elia is set to acquire another 20 per cent stake in Eurogrid, the holding company above the German TSO 50Hertz.

Latvian TSO buys 16.05 per cent stake in Conexus Baltic Grid 

February 5, 2018
Latvian transmission system operator (TSO) Augstsprieguma tīkls AS (AST) has purchased 16.05 per cent stake in the country’s unified natural gas transmission and storage operator Conexus Baltic Grid.

EU allocates EUR680 million for electricity sector under CEF 

January 28, 2018
The European Union (EU), under its Connecting Europe Facility (CEF), has granted EUR680 million for eight projects in the electricity sector, of which two relate to construction works, while six are studies.

Estonian Elering borrows EUR200 million from local and Finnish banks 

January 15, 2018
Estonian state-owned transmission system operator (TSO) Elering has entered into new loan facility agreements worth EUR200 million with local AS SEB Pank of Estonia and Finnish OP Corporate Bank plc to secure the refinancing of the current Eurobond that was issued in 2011 and will fall due on July 12, 2018.



Middle East & Africa


Tunisia signs TND121 million loan agreement with IsDB 

April 9, 2018
Tunisia has signed a USD121 million loan agreement with the Islamic Development Bank (IsDB) for the implementation of transmission projects.

Cameroon’s SGC to fund Douala transmission lines 

February 16, 2018
The Cameroon government signed two decrees that will allow its Ministry of Economy to sign two funding agreements with the country’s financial institute Société Générale Cameroun (SGC) for the construction of transmission lines in Douala.

Saudi SEC signs USD2.6 billion syndicated bridge facility with global banks 

January 22, 2018
Saudi power entity Saudi Electricity Company (SEC) has signed a USD2.6 billion international syndicated bridge facility with eight major global banks for funding its future ventures.

Nigerian TCN secures USD486 million loan for transmission projects [free access]

January 12, 2018
The state-owned Transmission Company of Nigeria (TCN) has completed negotiations with the World Bank for a USD486 million loan for the improvement of transmission infrastructure associated with the Nigeria Electricity Transmission Project (NETAP), which is one of the projects under the Transmission Rehabilitation and Expansion Plan (TREP).