Deal Watch: Europe

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

• 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.

• 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.

• Ukraine’s Ukrenergo signs agreements with EBRD and IFC on developing grid, energy storage

  October 29, 2019
  Ukraine’s vertically-integrated power utility, Ukrenergo, has signed two key agreements for the development of the energy sector, in the framework of the “RE:THINK, Invest in Ukraine”.

• NIB provides EUR100 million to Norway's Statnett for grid upgrade

  October 22, 2019
  The Nordic Investment Bank (NIB) has provided a loan of EUR100 million to Norway’s transmission system operator (TSO) Statnett to finance the expansion and upgrade of the grid in the country.

• Romania's Transelectrica receives EUR33 million funding for 400 kV line [free access]

  October 3, 2019
  The Romanian national power grid operator, Transelectrica SA, has signed a EUR33.43 million financing contract for the construction of the 400 kV Gutinaș–Smârdan double-circuit overhead line (OHL).

• EC approves EUR530 million funding for Ireland–France link

  October 2, 2019
  The European Commission (EC) has given its green light for EUR530 million funding for the 700 MW Celtic Interconnector project between Ireland and France.

• EU provides EUR40 million for Moldova Romania Power Interconnection project

  September 26, 2019
  The European Union (EU) will provide a EUR40 million investment grant for the Moldova Romania Power Interconnection project.

• EU to invest EUR46 million for modernising Czech Republic’s power system

  September 17, 2019
  The European Union (EU) will invest more than EUR46 million from the European Regional Development Fund for the modernisation and extension of the 400/110 kV Kočín substation (southern Bohemia) in Czech Republic.

• Iran and Armenia sign MoU on energy cooperation

  July 3, 2019
  Iran and Armenia have signed a memorandum of understanding (MoU) to expand economic cooperation between the two countries, at the end of the Iran-Armenia Joint Economic Committee meeting held in Tehran.

• Ukrainian government approves EBRD loan of EUR149 million to modernise power network

  June 27, 2019
  The Cabinet of Ministers of Ukraine has approved a EUR149 million loan from the European Bank for Reconstruction and Development (EBRD) for the modernisation of the power transmission network in the country.

• Georgian GSE sign loan agreements with World Bank and KfW

  June 24, 2019
  The Georgia's Joint Stock Company (JSC), Georgian State Electrosystem (GSE) has signed two financial agreements with International donor agencies—World Bank and the German KfW Entwicklungsbank (KfW Bank).

• EIB to back 32 GWh battery project in Sweden

  May 15, 2019
  The European Investment Bank (EIB) has given in-principle approval to a EUR350 million loan to back Sweden-based Northvolt AB’s plan for a gigafactory meant for lithium-ion battery cells in Sweden.

• Greece secures EIB funds for Crete Interconnector Phase I

  May 13, 2019
  The Greek Independent Power Transmission Operator (IPTO), Anexartitos Diacheiristis MetaforasIlektrikis Energeias (ADMIE), has secured a EUR178 million long-term loan from the European Investment Bank (EIB), to partially fund the construction of the Phase I of the Crete Interconnector project, the first electrical interconnection between Crete Island and in mainland Greece.

• World Bank lends USD70 million to improve Moldova’s transmission system

  May 8, 2019
  The World Bank has approved a USD70 million loan to Moldova to be used to finance the Power System Development Project aimed at increasing the capacity and improving reliability of the country's power transmission system.

• Romania's Transelectrica receives EUR31 million government funding for 400 kV line

  April 10, 2019
  The Romanian national power grid operator Transelectrica SA has received non-reimbursable funding of EUR31 million from the Ministerul Fondurilor Europenefor or the Romanian Ministry of European Funds for the 400 kV Gutinaș–Smârdan double-circuit overhead line(OHL).

• EC grants EUR28.6 million for Bulgarian section of Bulgaria–Greece interconnection

  April 1, 2019
  The Bulgarian Electricity System Operator (ESO) and the Innovations and Networks Executive Agency of the European Commission (EC) have signed a EUR28.6 million grant agreement under the Connecting Europe Facility (CEF) for the construction of the Bulgarian section of the 400 kV Maritsa East 1 (Bulgaria)–Nea Santa (Greece) link.

• EU and Baltic TSOs sign grant agreement for Baltic grid synchronisation project

  March 20, 2019
  The three Baltic transmission system operators (TSOs)—Estonia’s Elering, Latvia’s Augstsprieguma Tikls (AST) and Lithuania’s Litgrid—have signed a grant agreement worth EUR323 million with the European Union’s (EU) Innovation and Network Executive Agency (INEA) in Brussels, for the co-financing of the first stage of the synchronisation of the Baltic power grids with the continental European electricity system.

• Polish operators sign agreement to develop electricity network for over PLN100 million

  March 4, 2019
  Poland’s transmission system operator (TSO) Polskie Sieci Elektroenergetyczne (PSE) and distribution network developers Enea Operator and Tauron Dystrybucja, have signed an agreement to coordinate the development of the electricity transmission and distribution network in western Poland.