Deal Watch: Europe

Reports on major debt, equity and M&A deals from Europe

• 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.

• Italy’s Terna signs EUR85 million loan agreement with EIB [free access]

  June 27, 2017
  Italy’s transmission system operator (TSO) Terna Rete Italia S.p.A. has signed an agreement with the European Investment Bank (EIB) for a loan worth EUR85 million, with a maturity of 22 years.

• Norwegian TSO secures EUR300 million loan for 525 kV NordLink

  June 5, 2017
  The European Investment Bank (EIB) has announced additional funding for the ±525 kV high voltage direct current (HVDC) NordLink—the first interconnection between Germany and Norway across the North Sea.

• EU signs grant agreement for SINCRO.GRID project

  May 24, 2017
  The European Union (EU) has signed a EUR40 million grant agreement with Croatian and Slovenian transmission and distribution companies for funding for the first phase of their joint SINCRO.GRID project.

• Croatian Koncar acquires 74 per cent stake in Polish PET

  May 10, 2017
  Croatian power transformer manufacturer Koncar D&ST has signed a deal to acquire a 74 per cent stake in Polish company Power Engineering Transformatory (PET).

• Germany’s KfW Bank extends EUR125 million for Georgia’s grid expansion plans

  April 17, 2017
  Germany’s KfW Development Bank has extended a concession credit worth EUR125 million to Georgia’s Joint Stock Company (JSC) Georgian State Electrosystem (GSE) for power network expansion and modernisation in Georgia. The loan agreement between the two parties was signed on April 13, 2017.

• EIB announces EUR350 million loan for 525 kV NordLink [free access]

  April 3, 2017
  The European Investment Bank (EIB) has announced a loan worth EUR350 million for the ±525 kV high voltage direct current (HVDC) NordLink, first interconnection between Germany and Norway across the North Sea.

• EU approves acquisition of French RTE’s 49.9 per cent by CDC

  March 27, 2017
  The European Union (EU) has approved the acquisition of 49.9 per cent stake in French power transmission company Réseau de Transport d'Électricité (RTE), by Caisse des Dépôts et Consignations (CDC), a local public sector financial institution.

• EU allocates EUR4 million for Celtic interconnector under CEF [free access]

  February 23, 2017
  pean Union (EU) has allocated EUR4 million from the Connecting Europe Facility (CEF) to the Celtic Interconnector project between Ireland and France, proposed by Ireland’s and French transmission system operators (TSOs) EirGrid and Réseau de Transport d’Électricité (RTE), respectively.

• German KfW bank grants EUR1.2 million for Georgia's Grid Enhancement Project

  December 26, 2016
  German KfW Development Bank has awarded a grant of EUR1.2 million to Georgia's Joint Stock Company (JSC) Georgian State Electrosystem (GSE) for the Power Grid Enhancement Project, which aims at strengthening the transmission infrastructure in Georgia.

• French utility EDF to sell 49.9 per cent stake in transmission company RTE

  December 16, 2016
  France's state-controlled utility Electricite de France (EDF) has signed a binding agreement with state-owned bank Caisse des Depots and its unit CNP Assurances to sell half its stake (49.9 per cent) in French power transmission company Réseau de Transport d'Électricité (RTE).

• Italy's Prysmian group wins EUR42 million auction of HV assets in China

  December 7, 2016
  Italian equipment manufacturer Prysmian Group has won a bankruptcy auction worth EUR42 million for certain assets of a high voltage (HV) cable factory in China, operated by Shen Huan Cable Technologies.

• EC awards EUR99 million for smart grid and storage projects under Horizon 2020

  December 6, 2016
  The European Commission's (EC) Innovation and Networks Executive Agency (INEA) has awarded EUR99 million for 12 smart grid and storage projects under its Horizon 2020 Research Programme.

• UK's Ofgem allocates GBP33 million for four smart grid projects

  December 6, 2016
  UK's energy market regulator, Office of Gas and Electricity Markets (Ofgem), under its annual network innovation competition (NIC), has awarded GBP33 million of funding to four power projects aimed at developing smarter energy grids.

• Japanese Hitachi and Slovenia's ELES to undertake smart grid projects in Slovenia

  December 1, 2016
  Japanese multinational conglomerate Hitachi Limited and Slovenia's state-owned electricity transmission operator Elektro-Slovenija, d.o.o. (ELES) have agreed to undertake a joint project on smart grids and smart community business in Slovenia. The project is scheduled to run for three years from November 2016 to October 2019.

• Albania's TSO signs loan agreement with KfW Bank for 400 kV Albania-Macedonia link

  November 21, 2016
  Albania's transmission system operator Operatori Sistemit Transmetimit (OST) has signed a loan agreement worth EUR50 million with German development bank KfW, to finance the construction of the 400 kV, 126-km-long Albania-Macedonia link.

• Croatian and Slovenian TSOs sign coordination agreement for SINCO.GRID

  November 1, 2016
  Croatian transmission system operator (TSO) Hrvatski Operator Prijenosnog Sustava D.O.O. (HOPS) and state-owned power utility group Hrvatska Elektroprivreda (HEP) have signed an agreement on joint coordination in the international project SINCRO.GRID with Slovenian TSO Elektro-Slovenija, d.o.o. (ELES) and distribution system operator SODO d.o.o.. It provides a basis for applying for funds from the European Union's (EU) Connecting Europe Facility (CEF).

• EIB to provide GBP82 million loan for UK's Humber Gateway link

  September 8, 2016
  The European Investment Bank (EIB) has agreed to provide a 19-year loan of GBP82 million to Humber Gateway OFTO Limited for the purchase, operation and maintenance of the Humber Gateway link.