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Deal Watch

Reports on major debt, equity and M&A deals

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North America

NYPA receives APPA grant to integrate LiDAR with drones 

January 21, 2019
The New York Power Authority (NYPA) has received a USD125,000 grant from the American Public Power Association’s (APPA) Demonstration of Energy and Efficiency Development (DEED) programme to research and integrate light detection and ranging (LiDAR) technology into its existing Unmanned Aircraft System (UAS) programme for vegetation management inspections along its transmission lines.

Brazilian EDP signs BRL124.5 million financing agreement with BNB 

January 3, 2019
Brazilian Energias do Brasil S.A. (EDP), through its subsidiary EDP Transmissão MA II, has signed a financing agreement with Banco do Nordeste do Brasil S.A. (BNB), for a credit facility of BRL124.5 million, to be provided with funds from the Fundo Constitucional de Financiamento do Nordeste (FNE).

US-based Dominion Energy and SCANA Corporation complete merger 

January 2, 2019
The US-based Dominion Energy, Incorporated and SCANA Corporation have officially completed their impending merger deal.

FERC approves Vermont’s acquisition of remaining stake in Highgate Transmission Facility 

December 24, 2018
Vermont Transmission Company LLC has received an approval from the Federal Energy Regulatory Commission (FERC) to become the sole owner of the 345 kV Highgate Transmission Facility by acquiring the stakes of the other co-owners (Stowe and Burlington) for approximately USD6.3 million.

Latin America

Brazilian WEG acquires energy storage system business of US-based NPS 

February 13, 2019
Brazil-based WEG SA, operating worldwide in electric engineering, power and automation technologies, has acquired the energy storage system (ESS) business of Northern Power Systems (NPS), a company that designs, develops and manufactures energy storage systems in Barre, Vermont, USA.

Celeo Redes Brasil acquires two concessionaires of Grupo Isolux Corsan 

January 14, 2019
Celeo Redes Brasil, a company partly owned by Spain's Elecnor Group, has completed the acquisition of Grupo Isolux Corsan SA’s stake in two transmission line concessionaires in Brazil for EUR46.65 million.

Chilean Transelec secures USD375 million for three projects [free access]

December 26, 2018
Chilean power transmission firm Transelec SA has secured USD375 million to finance the development of three transmission projects. The financing includes a series of contracts and agreements signed with Mitsubishi UFJ Financial Group (MUFG), Export Development Canada, and KfW Bankengruppe (KFW) IPEX-Bank GmbH.

Chilean Chilquinta Energía acquires CTNG for USD225.5 million 

December 20, 2018
Chile-based power utility Chilquinta Energía—a subsidiary of Sempra Energy, has completed the acquisition of Compañía Transmisora del Norte Grande S.A. (CTNG) from Chilean electrical power utility AES Gener S.A.—a subsidiary of AES Corporation, for a total purchase price of approximately USD225.5 million.

Asia Pacific

India-based ATL acquires KEC Bikaner Sikar Transmission 

February 10, 2019
Adani Transmission Limited (ATL), a power transmission arm of India-based conglomerate Adani Group, has acquired KEC Bikaner Sikar Transmission Private Limited from Indian engineering, construction and procurement (EPC) company KEC International Limited at an enterprise value of INR2.28 billion.

Japan-based Hitachi to acquire power grid division of ABB 

December 18, 2018
Japanese Hitachi Limited has reached an agreement to acquire 80.1 per cent stake in Swiss equipment manufacturer ABB’s Power Grid division by first half of 2020.

ADB approves USD284 million for Pakistan’s transmission network development 

December 14, 2018
The Asian Development Bank (ADB) and the Government of Pakistan (GoP) has signed loan and grant agreements worth USD284 million to improve Pakistan’s power transmission network for a more stable and secure electricity supply network.

Indian POWERGID signs JPY22 billion loan agreement with Japanese SMBC 

December 11, 2018
Power Grid Corporation of India Limited (POWREGRID) has entered into a JPY22-billion term loan facility agreement with Sumitomo Mitsui Banking Corporation, Singapore Branch (SMBC).


EIB lends EUR100 million to modernise Finland’s transmission network 

February 7, 2019
Finland’s transmission system operator (TSO) Fingrid has recently signed a EUR100 million loan agreement with the European Investment Bank (EIB), which will cover the former’s investment programme, through which it aims to rehabilitate and further develop its electricity transmission network.

EU approves EUR323 million for power grid synchronisation project [free access]

January 23, 2019
The European Union’s (EU) Connecting Europe Facility (CEF) has allocated EUR323 million to finance the first stage of the synchronisation of the Baltic power grids with the continental European electricity system.

Germany’s Siemens acquires non-controlling share in Italian Coelme Group 

December 17, 2018
Germany’s equipment manufacturer Siemens and Coelme Group, an Italian-based subsidiary of US-based Southern States LCC—one of the leading manufacturers of high voltage disconnect switches, have agreed to Siemens acquiring a non-controlling minority shareholding of 25 per cent in Coelme Group.

EIB lends EUR100 million to modernise Hungary`s transmission network 

October 9, 2018
The European Investment Bank (EIB) has agreed to lend EUR100 million to the Hungarian power company Magyar Villamos Mvek (MVM) to modernise its power transmission network and upgrade Hungary`s power interconnection capacity with Slovakia.

Middle East & Africa

AFD approves USD245 million for Nigeria’s Northern Corridor Transmission Project 

January 2, 2019
The Agence Française de Développement (AFD) has approved USD245 million for the implementation of Nigeria’s Northern Corridor Transmission Project, which is being developed by the Transmission Company of Nigeria (TCN).

US’ MCC and Senegalese government sign contract for Senegal Power Compact 

December 26, 2018
Recently, the Senegalese government and the US government’s Millennium Challenge Corporation (MCC) have signed a five-year USD550 million MCC Senegal Power Compact.

AFD extends ZAR1.5 billion financial support to South Africa Eskom 

December 13, 2018
Recently, the South African state-owned power utility Eskom Holdings SOC Limited (Eskom) and Agence Française de Développement (AFD) signed a loan agreement worth ZAR1.5 billion for strengthening grid network along the west coast of the country.

EBRD lends USD265 million to NEPCO for strengthening Jordan's grid 

December 4, 2018
The European Bank for Reconstruction and Development (EBRD) has signed a USD265 million loan agreement with Jordan's National Electricity Company (NEPCO) for improving the integration of renewable energy into the national grid.