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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

Bankruptcy court approves Sempra Energy’s acquisition of re-structured EFH 

September 7, 2017
San Diego-based Sempra Energy has received approval from the bankruptcy court to acquire the restructured Energy Future Holdings Corporation (EFH), the indirect owner of 80 per cent stake in Oncor Electric Delivery Company, LLC (Oncor) — operator of the largest electric transmission and distribution system in Texas.

PUC of Texas grants preliminary approval for asset-swapping deal of Sharyland Utilities and Oncor 

September 7, 2017
The Public Utility Commission (PUC) of Texas has granted preliminary approval for the asset-swapping proposal of Sharyland Utilities, L.P. (Sharyland or Sharyland Utilities) and its subsidiary Sharyland Distribution & Transmission Services, L.L.C. (SDTS), and Oncor Electric Delivery Company LLC (Oncor), a subsidiary of Energy Future Holdings Corporation (EFH).

US-based ATC Development Company invests in Canadian oneGRID Corporation 

August 24, 2017
US-based ATC Development Company has invested development capital in Canadian independent transmission developer oneGRID Corporation, and has joined the latter’s Board of Directors.

FERC approves GridLiance-VEA 230 kV asset acquisition deal 

August 21, 2017
The Federal Energy Regulatory Commission (FERC) has approved GridLiance’s acquisition of 230 kV transmission assets of Nevada-based member-owned electric cooperative Valley Electric Association (VEA), for USD200 million.

Latin America

Brazilian BNDES approves merger of Spanish Iberdrola with Neoenergia and Elektro 

August 21, 2017
Spanish power utility Iberdrola has received the approval of Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the National Bank for Economic and Social Development to merge two Brazilian electric utilities, namely, Neoenergia SA and Elektro Holdings SA.

Brazilian WEG acquires CG Power USA Inc. [free access]

August 15, 2017
Brazil-based WEG SA has acquired US-based CG Power USA Inc., the power and distribution transformers arm of the Indian group Crompton Greaves (CG).

IIC signs USD81 million loan agreement with Terna for 500 kV line in Uruguay 

July 18, 2017
The Inter-American Investment Corporation (IIC), the private sector arm of the Inter-American Development Bank (IaDB), has signed a USD81 million loan agreement with Italy-based Terna, the largest transmission system operator in Europe, to develop the 500 kV Melo–Tacuarembó transmission line project in Uruguay.

Canada's Brookfield Asset Management to acquire Brazilian Ambar Energia Ltda 

July 13, 2017
Reportedly, Canada's Brookfield Asset Management has signed an agreement to acquire power transmission lines owned by Brazil's J&F Investimentos SA, which is selling off assets to pay a record corruption-related fine.

Asia Pacific

EXIM China and Tajikistan sign loan agreement for 500 kV project 

September 11, 2017
The Government of Tajikistan signed a loan agreement with Export Import (EXIM) Bank of China for the implementation of a 500 kV transmission project in Tajikistan.

ADB to provide USD150 million loan for Nepal’s T&D project 

September 11, 2017
The Asian Development Bank (ADB) will provide a loan of USD150 million to the Nepal government for implementation of the Power Transmission and Distribution (T&D) Efficiency Enhancement Project. A concessional loan agreement for the project was signed between ADB and Nepal’s power utility Nepal Electricity Authority (NEA) in June 2017.

POWERGRID signs loan agreements for various high voltage projects in India 

August 21, 2017
Indian Power Grid Corporation of India Limited (POWERGRID) has signed loan agreements with the Asian Development Bank (ADB) and ICICI Bank Limited to finance various transmission network projects in India.

Malaysia’s RTB acquires 75 per cent stake in HG Power Transmission 

July 24, 2017
Malaysian Rohas Tecnic Bhd (RTB) has entered into a conditional share sale agreement (SSA) with local companies PT Safe Tower Systems Sdn Bhd (PTSTS) and Kemuncak Agresif (M) Sdn Bhd (KAMSB) for the proposed acquisition of 75 per cent stake in HG Power Transmission Sdn Bhd (HGPT)—an engineering, procurement, construction and commissioning (EPCC) firm, at a purchase consideration of MYR114.16 million.


EIB grants EUR130 million for 1,200 MW Italy–France interconnector [free access]

July 26, 2017
The European Investment Bank (EIB) has granted funding worth EUR130 million to Italy’s Terna Energy Group for the Piedmont–Savoy link between France and Italy.

Polish TFKable to acquire UK’s offshore specialist JDR Cable Systems 

July 17, 2017
Polish cable giant Tele-Fonika Kable (TFKable) is in the process of acquiring the UK’s offshore specialist JDR Cable Systems in an undisclosed deal that is subject to regulatory approval.

EIB extends EUR100 million for two Belgium projects 

July 5, 2017
The European Investment Bank (EIB) has agreed to extend a seven-year loan worth EUR100 million to Belgian transmission system operator (TSO) Elia, for connecting renewable energy and integrating the European energy system.

Irish and French TSOs receive EC’s EUR4 million grant for Celtic Interconnector 

July 3, 2017
Irish and French transmission system operators (TSOs) – EirGrid Plc and Reseau de Transport d'Electricite (RTE), have received EUR4 million from the European Commission (EC) for the Celtic Interconnector project between the two countries.

Middle East & Africa

Egyptian EEHC receives first installment of EGP37 billion loan 

August 21, 2017
State-owned Egyptian Electricity Holding Company (EEHC), together with its subsidiary Egyptian Electricity Transmission Company (EETC), has received EGP1.3 billion funding from local banks — Banque Misr (BM) and National Bank of Egypt (NBE).

Nigerian TCN secures USD1.55 billion to fund grid projects 

August 16, 2017
Nigeria's state-owned grid developer Transmission Company of Nigeria (TCN) has received more than USD1.55 billion from several multilateral donors in order to revive stalled projects and expand its electrical grid.

Egyptian EEHC to ink EGP37 billion loan agreement with local banks 

July 16, 2017
State-owned Egyptian Electricity Holding Company (EEHC) is all set to sign a loan agreement worth EGP37 billion with the Egyptian banks —National Bank of Egypt (NBE) and Banque Misr (BM)

Iran's Tavanir and Korea's KEPCO sign MoU to develop CDM programme 

May 1, 2017
Iran Power Generation Transmission & Distribution Management Company (Tavanir) and South Korean power utility Korea Electric Power Corporation (KEPCO) have signed a memorandum of understanding (MoU) to help develop a clean development mechanism (CDM) programme in Iran.