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Deal Watch

Reports on major debt, equity and M&A deals

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North America

Kansas-based Koch Industries acquires Sentient Energy 

March 26, 2020
Koch Engineered Solutions (KES), a unit of Kansas-based Koch Industries Inc., has acquired California-based Sentient Energy, a company providing distribution grid transformation, intelligent line sensors and grid analytics software for fault detection, outage prevention, and safe, reliable power delivery.

GridLiance Holdco closes transmission acquisition deal with EEI [free access]

March 4, 2020
GridLiance Holdco, through its GridLiance Heartland LLC subsidiary, has closed the acquisition of six transmission lines from Vistra Energy’s subsidiary, Electric Energy Inc. (EEI).

Michigan Electric Transmission Company receives loan of USD75 million 

January 27, 2020
Reportedly, Michigan Electric Transmission Company, LLC (METC), a subsidiary of ITC Holdings, has entered into an unsecured term loan credit agreement for USD75 million with various lenders on January 23, 2020.

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.

Latin America

Indian Sterlite completes sale of two transmission assets in Brazil [free access]

March 26, 2020
India’s Sterlite Power Transmission Limited has completed the sale of two of its transmission assets in Brazil.

Brazilian TAESA acquires two SPEs from Amber Energia 

March 16, 2020
Brazil electric power transmission company, Transmissora Alianca de Energia Eletrica SA (TAESA), has completed the purchase of two transmission special purpose entities (SPEs) of Brazilian J&F Investimentos SA’s energy arm, Amber Energia.

Sterlite Brazil completes sale of Sterlite Novo Estado Energia SA to Engie 

March 12, 2020
Sterlite Brazil Participacoes SA (subsidiary of Indian Sterlite Power Transmission Limited) has completed the sale of its special purpose entity (SPE), Sterlite Novo Estado Energia SA, to Engie Transmissao, a unit of Brazilian utility Engie Brasil Energia SA.

ANEEL approves merger of TDG and Chesf in Brazil [free access]

February 4, 2020
Brazilian energy regulator, Agência Nacional de Energia Elétrica (ANEEL), has approved the merger of the special purpose entity (SPE) of Centrais Elétricas Brasileiras SA (Eletrobras)—Transmissora Delmiro Gouveia (TDG), with its subsidiary Companhia Hidro Eletrica do Sao Francisco (Chesf).

Asia Pacific

Eurasian Development Bank acquires bonds of Kazakhstan’s KEGOC 

May 28, 2020
The Eurasian Development Bank has acquired bonds worth more than KZT8 billion of Kazakhstan’s grid developer, JSC Kazakhstan Electricity Grid Management Company (KEGOC).

IndiGrid acquires transmission asset worth USD134 million in India 

March 24, 2020
India’s leading infrastructure investment trust (InvIT), India Grid Trust (IndiGrid)—owned by Sterlite Power Transmission Limited (SPTL)—has announced the acquisition of East North Interconnection Company Limited (ENICL), at a cost USD134 million from SPTL.

AIIB to provide USD200 million loan to Bangladesh for power supply expansion 

March 4, 2020
The Asian Infrastructure Investment Bank (AIIB) has agreed to provide a loan of USD200 million to Bangladesh for expansion of its power supply network, in the capital city of Dhaka and the country’s western zone.

Pakistan’s NTDC secures PKR6.4 billion loan for transmission projects 

February 26, 2020
Pakistan’s state-owned, high voltage network developer, National Transmission and Despatch Company Limited (NTDC), has secured a PKR6.4 billion loan from a consortium of banks—Habib Bank Limited (HBL), National Bank of Pakistan (NBP) and BankIslami Pakistan Limited (BIPL)—for the construction of the 220 kV Jhimpir-II grid substation (GSS), along with associated transmission lines.


EIB and TenneT inks EUR250 million loan agreement for offshore grid expansion 

March 9, 2020
The Dutch power transmission system operator (TSO) TenneT and the European Investment Bank (EIB) have inked a EUR250 million loan agreement for the western section of the Zuid-West 380 kV project.

World Bank approves EUR290 million loan to support renewable energy in Turkey 

March 4, 2020
The World Bank’s Board of Executive Directors has recently approved additional financing of EUR289.5 million to the Turkish grid developer Türkiye Elektrik Iletim A.S (TEIAS) for the implementation of the Renewable Energy Integration Project (REIP).

Danish NKT acquires R&D consultancy from ABB [free access]

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.

Middle East & Africa

Madagascar receives EUR4 million support from AfDB for 205 MW Sahofika HPP 

May 26, 2020
The African Development Fund (AfDB) has approved a EUR4.02 million loan for financing Madagascar’s EUR30 million, 205 MW Sahofika hydropower project (HPP), which entails construction of the HPP on a Build-Own-Operate-Transfer (BOOT) basis and a 75 km, 220 kV associated transmission line, with 110 km of access roads.

NELSAP receives financial support from AfDB for DRC–Uganda interconnection 

May 19, 2020
The African Development Bank (AfDB) will provide financial support to the Nile Equatorial Lakes Subsidiary Action Programme (NELSAP) for updating the feasibility study of the Democratic Republic of Congo (DRC)–Uganda interconnection, which is part of the NEL Interconnection Project.

Jordan’s NEPCO to receive USD100 million emergency loan from EBRD 

May 5, 2020
Jordan’s state-owned National Electric Power Company (NEPCO) will receive financial aid worth USD100 million in the form of an emergency loan from the European Bank for Reconstruction and Development (EBRD).

Abu Dhabi’s TAQA agrees for AED200 million asset swap deal with ADPower 

April 30, 2020
Recently, Abu Dhabi Power Corporation (ADPower), a subsidiary of government-owned Abu Dhabi Development Holding Company PJSC, has received a nod from one of its subsidiaries — Abu Dhabi National Energy Company (TAQA), to transfer majority of ADPower’s electricity generation, transmission and distribution (T&D) and water companies, in return for 106,367,950,000 convertible shares in TAQA, and termination of the land lease agreement between ADPower and TAQA.