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Deal Watch

Reports on major debt, equity and M&A deals


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North America


CAISO awards Gates 500 kV Dynamic Reactive Power Support Project to LS Power 

January 22, 2020
LS Power Grid California, LLC has been selected by the California Independent System Operator (CAISO) as the developer of the Gates 500 kV Dynamic Reactive Power Support Project.

Indigenous communities in Alberta acquire 40 per cent stake in APL 

December 19, 2019
Canadian Utilities Limited, an ATCO Group company, and Quanta Services, Inc. have completed the sale of their 40 per cent stake in Alberta PowerLine LP (APL) to seven indigenous communities in Alberta.

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.



Latin America


Mexican CFE awards cable contract worth USD38 million to Prysmian Group 

January 15, 2020
Prysmian Group, an Italian multinational dedicated to the manufacture of cables and transmission systems for the electricity and telecommunications industries, has been awarded a new contract worth about USD38 million by the Mexican state-owned power utility, Comision Federal de Electricidad (CFE) for the project “Proyecto de Conectividad Fibra Óptica Red Eléctrica Inteligente REI” in Mexico.

Northland Power closes acquisition of Colombian EBSA 

January 14, 2020
Canada-based Northland Power Inc. has announced the closing of the acquisition deal of Colombian regulated utility, Empresa de Energía de Boyacá (EBSA). The former has acquired 99.2 per cent stake in EBSA from Fondo de Capital Privado de Infraestructura Brookfield Colombia and BCIF Holdings Colombia II S.A.S. (also known as Brookfield Infrastructure).

Shareholders of Eletrosul and CGTEE approve merger to form Eletrobras CGT Eletrosul 

January 3, 2020
The shareholders of two subsidiaries of Brazil's federal power utility, Centrais Eletricas Brasileiras SA (Eletrobras)—Eletrosul Centrais Elétricas S.A. (Eletrosul) and Companhia de Geracao Termica de Energia Eletrica (CGTEE)—have approved at Extraordinary General Meetings held on January 1, 2020, the merger of both companies

Brazilian BNDES approves BRL2.45 billion loan to Neoenergia [free access]

December 27, 2019
Brazilian state-owned Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the National Bank for Economic and Social Development has approved a BRL2.45 billion loan for three projects of Neoenergia, a part of Spanish group Iberdrola, in Brazil.



Asia Pacific


Pakistan signs loan agreements with World Bank for CASA-1000 project [free access]

November 27, 2019
In a bid to improve power supply and civil services in the city of Karachi, Pakistan has signed loan agreements with the World Bank for five projects worth USD787 million, including USD65 million for the Central Asia–South Asia Electricity Transmission and Trade (CASA-1000) power project.

ADB approves loan for power transmission expansion in Bangladesh 

November 8, 2019
ADB has approved a loan of USD300 million for expansion of power transmission lines in Greater Dhaka and the western zone of Bangladesh.

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.



Europe


Danish NKT acquires R&D consultancy from ABB 

December 30, 2019
Denmark's NKT Cables has acquired the technology consulting unit from the Swedish-Swiss ABB, in a move to strengthen its research and development (R&D) department and maintain its well-built market position within innovative power cable solutions.

Elecnor, APG acquire CC&I to develop transmission in Spain, Chile and Brazil 

December 18, 2019
The Spanish infrastructure, energy and telecommunications company, Elecnor Group, and the Dutch pension fund manager, APG Group, have closed their partnership agreement, via which the two will jointly invest and develop transmission and renewable energy projects (except wind power projects) in Spain, Chile and Brazil.

EU grants EUR10 million for Poland–Lithuania HVDC link 

December 4, 2019
The transmission system operators (TSO) of Poland and Lithuania—Polskie Sieci Elektroenergetyczne (PSE) and Litgrid respectively, have received a EUR10.29 million grant from the European Union (EU) to carry out studies for a new subsea high voltage direct current (HVDC) interconnector between the grids of the two countries (Harmony Link).

EIB and Terna sign EUR490 million loan agreement to improve grid in Italy 

November 20, 2019
The Italian transmission system operator (TSO), Terna, and the European Investment Bank (EIB) have inked a EUR490 million loan agreement to support investments marked for improving the reliability and quality of Italy’s power transmission network.



Middle East & Africa


Ghana receives EUR250 million from Germany to mordernise grid network 

January 16, 2020
Recently, Ghana received EUR250 million from the German government to upgrade and expand the country’s transmission infrastructure, under the Germany’s Compact with Africa programme.

TCN receives USD13 million grant from JICA to boost power supply in Nigeria 

December 27, 2019
As per news reports, Transmission Company of Nigeria (TCN) has received a grant worth USD13 million from the Japan International Cooperation Agency (JICA) for the provision of capacitor banks to ensure uninterrupted power supply in the Apo and Keffi axis of Nasarawa State in Nigeria.

Nama Holding sells stakes worth USD1 billion in OETC to Chinese SGCC 

December 17, 2019
Oman’s state-owned Nama Holding has sold a 49 per cent stake in Oman Electricity Transmission Company (OETC) worth USD1 billion to Chinese State Grid Corporation of China (SGCC), under the Nama Holding 's plan of privatising electricity sector companies.

AfDB approves EUR245 million support to Morocco’s ONEE for grid strengthening 

December 11, 2019
The Moroccan government-owned Office National de l’Electricité et de l’Eau Potable (ONEE) has received approval from the African Development Bank (AfDB) for financial support worth EUR245 million for the utility’s programme for the development of transmission and rural electrification network in the country.