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Deal Watch

Reports on major debt, equity and M&A deals


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North America


Wataynikaneyap Power to receive CAD60 million grant for Pikangikum Distribution Line Project 

August 18, 2017
Wataynikaneyap Power, a transmission company equally owned by 22 First Nations communities and Fortis, will receive CAD60 million from Canada's Minister of Indigenous and Northern Affairs for its Pikangikum Distribution Line Project.

Sharyland Utilities and Oncor sign agreement to swap assets 

July 24, 2017
Sharyland Utilities, L.P. (Sharyland or Sharyland Utilities) and its subsidiary Sharyland Distribution & Transmission Services, L.L.C. (SDTS) have signed a definitive agreement with Oncor Electric Delivery Company LLC (Oncor) to swap assets in a transaction valued at approximately USD400 million.

Canada-based Hydro One to acquire US-based Avista Corporation [free access]

July 19, 2017
Toronto-based Hydro One has planned to move into the US natural gas and electrical transmission business by acquiring Washington-based Avista Corporation for USD4.4 billion.

Berkshire Hathaway Energy to acquire Oncor Electric from EFH 

July 7, 2017
After being unable to strike a deal with Hunt Consolidated Inc. of Texas and Florida's NextEra Energy Incorporated, to sell off its subsidiary Oncor Electric Delivery Company LLC, Energy Future Holdings (EFH) is now in talks with Berkshire Hathaway Energy, a unit of Warren Buffett's Berkshire Hathaway Inc. for the same.



Latin America


Brazilian WEG acquires CG Power USA Inc. 

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.

Brazilian Cade approves Neoenergia SA–Elektro Holdings SA merger deal 

July 8, 2017
Brazilian business administration watchdog Conselho Administrativo de Defesa Econômica (Cade) has approved the merger of local power holding companies Neoenergia SA and Elektro Holdings SA.



Asia Pacific


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.

Pakistan government signs loan agreement with AFD for power sector projects 

July 24, 2017
The Pakistan government has signed a loan agreement worth EUR165 million with Frech development agency Agence Française de Développement (AFD) to finance two energy sector projects—Power Transmission Enhancement Investment Tranche-IV and Mangla Power Plant Rehabilitation Project in Pakistan.

World Bank approves USD60 million for Afghanistan’s electrification project 

June 19, 2017
The World Bank’s International Development Association (IDA) has approved a grant worth USD60 million for the implementation of the Herat Electrification Project, which will provide access to electricity to households, institutions and businesses in selected areas of Herat Province of Afghanistan.

AIIB approves USD160 million loan for Indian state’s T&D network 

May 4, 2017
The newly founded multilateral financial institution Asian Infrastructure Investment Bank (AIIB) has approved a loan worth USD160 million to support Indian state of Andhra Pradesh’s 24x7 Power for All project, with the objective to strengthen the power transmission and distribution (T&D) system in the state.



Europe


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


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.

World Bank approves USD325 million to support Ivory Coast’s power grid upgrade 

April 28, 2017
The World Bank’s International Development Association (IDA) has signed a USD325 million financing agreement with the government of Ivory Coast for implementing the Electricity Transmission and Access Project.