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Deal Watch

Reports on major debt, equity and M&A deals

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North America

Ormat announces acquisition of energy storage asset in Texas 

December 17, 2020
US-based Ormat Technologies Inc. recently announced the acquisition of a shovel-ready (about to begin construction soon) energy storage asset in Upton County, Texas, from Con Edison Development—engaged in the development of renewable and energy infrastructure assets throughout the US.

California Energy Commission awards USD1.2 million for energy storage solution 

October 13, 2020
The California Energy Commission (CEC) has recently awarded USD1.2 million to Indian Energy LLC—a utility-scale and microgrid development and systems integration firm—to demonstrate a non-lithium, long-duration, ion energy storage solution.

Washington DC-based Stantec completes acquisition of Teshmont [free access]

October 5, 2020
The Washington DC-based global engineering and design firm, Stantec, recently announced the acquisition of Teshmont—a Canadian-based electrical engineering consulting company, specialising in high voltage (HV) power transmission and distribution engineering.

NextEra Energy Transmission announces acquisition of GridLiance [free access]

September 30, 2020
NextEra Energy Transmission (NEET), LLC—a subsidiary of NextEra Energy Inc., has recently announced that it has entered into definitive agreements with affiliates of Blackstone Energy Partners to acquire GridLiance Holdco, LP and GridLiance GP, LLC (together, GridLiance) for approximately USD660 million, including the assumption of debt.

Latin America

Colombian ISA acquires Brazilian PBTE for USD300 million [free access]

December 3, 2020
Recently, Colombian power company Interconexión Eléctrica's (ISA) Brazilian subsidiary, ISA Companhia de Transmissao de Energia Eletrica Paulista (CTEEP), agreed to purchase the Brazilian transmission company — Piratininga–Bandeirantes Transmissora de Energia (PBTE) for USD300 million.

Paraguayan ANDE signs USD250 million loan agreement with CAF [free access]

November 11, 2020
Recently, Corporacion Andina de Fomento (CAF), or the Development Bank of Latin America has lent USD250 million to Paraguay’s state-owned power company, Administración Nacional de Electricidad (ANDE), for implementation of the Programa de Mejoramiento del Sistema de Transmisión y de Distribución de Electricidad y de Modernización de la Gestión de la Distribución or the Programme for the Improvement of the Electricity Transmission and Distribution System and Modernisation of the Distribution Network.

USA’s I Squared Capital sells Peruvian transmission line business Orazul to ISA Peru 

September 9, 2020
US-based I Squared Capital has sold its Peruvian transmission line company Orazul Energy Group at USD158.5 million to Colombian state-owned transmission company Interconexión Eléctrica S.A. E.S.P’s (ISA) Peruvian subsidiary — ISA Peru.

Engie Brasil Energia, BNDES sign USD487 million deal for Novo Estado transmission lines 

June 16, 2020
Brazilian utility Engie Brasil Energia SA has signed a financing agreement worth USD487 million with the Brazilian state-owned Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the National Bank for Economic and Social Development, for the development of the Novo Estado transmission line project.

Asia Pacific

Indian Rinfra sells entire stake in PKTCL for INR9 billion 

January 14, 2021
Reliance Infrastructure Limited (Rinfra), part of the India-based conglomerate Reliance Group, and Power Grid Corporation of India Limited (POWERGRID) have recently signed a termination agreement for Parbati Koldam Transmission Company Limited (PKTCL), the special purpose vehicle (SPV) that was formed for executing an INR9.57 billion project in the Indian state of Himachal Pradesh.

Nepal signs NPR18 billion loan agreement with ADB for grid modernisation 

December 30, 2020
Nepal’s Ministry of Finance (MoF) has recently signed an NPR18.25 billion loan agreement with the Asian Development Bank (ADB) for the modernisation of electric grid in the country.

ADB approves USD200 million additional loan for Bangladesh’s power project 

December 30, 2020
The Asian Development Bank (ADB) and the government of Bangladesh have recently signed an agreement for USD200 million in additional loans, including USD130 million of concessional loans, for augmenting access to efficient and reliable electricity supply in rural areas of Bangladesh, by strengthening the transmission and distribution networks.

Indian Sterlite and Australian AMP to strengthen grid infrastructure in India 

December 29, 2020
India-based power transmission asset developer Sterlite Power Transmission Limited (SPTL) and Australia-based global investment manager AMP Capital have recently entered into a 50:50 partnership to develop energy transmission projects in India with a total equity investment of USD300 million.


EU’s INEA signs EUR720 million grant agreement for Baltic Synchronisation project 

January 4, 2021
The European Union’s (EU) Innovation and Network Executive Agency (INEA) has signed a grant agreement releasing EUR720 million from the Connecting Europe Facility (CEF) for the second and final stage of the Baltic Synchronisation project.

EIB grants CZK5 billion loan to CEPS for network upgrade in Czech Republic 

December 2, 2020
The European Investment Bank (EIB) has signed a CZK5 billion loan agreement with CEPS AS, the Czech Republic's transmission system operator (TSO), to bolster the electricity transmission infrastructure in the country, which in turn will facilitate the integration of renewables.

Latvia’s TSO AST completes acquisition of LET 

November 26, 2020
A restructuring process, in which Latvijas Elektriskie Tikli (LET; a company that provides monitoring and management of Latvian power transmission network assets) was unbundled from the state-owned energy company Latvenergo and merged with the Latvian transmission system operator (TSO) Augstsprieguma Tikls (AST), has been completed.

EU announces EUR998 million funding for energy projects under CEF 

October 6, 2020
The European Union (EU) has announced EUR998 million funding for key European energy infrastructure projects under the Connecting Europe Facility (CEF). The move will provide financial aid for works and studies for ten projects.

Middle East & Africa

Madagascar receives USD43 million loan from AfDB for PRIRTEM-II 

December 17, 2020
The African Development Bank (AfDB) has approved a loan of USD42.9 million for financing the second phase of the Power Transmission Network Reinforcement and Interconnection Project in Madagascar (PRIRTEM-II).

Tanzania secures USD31 million grant from AFD for 400 kV grid link with Zambia 

December 15, 2020
Recently, the Agence Française de Développement (AFD) has signed a financing agreement with Tanzania for providing USD31.5 million in the form of a grant for the implementation of the Tanzania–Zambia Transmission Interconnector Project (TAZA).

Saudi SEC signs syndicated financing agreement with seven local banks 

September 1, 2020
As per news reports, the Saudi Electricity Company (SEC) has signed a seven-year unsecured syndicated borrowing agreement worth SAR9 billion with seven major Saudi banks, namely National Commercial Bank, Bank Albilad, Al-Rajhi Bank, Riyad Bank, Samba Financial Group, Banque Saudi Fransi and the Saudi British Bank.

Jordan, Saudi Arabian Energy Ministries sign MoU for connecting grid networks 

August 18, 2020
Jordan’s Ministry of Energy and Mineral Resources and Saudi Arabia’s Ministry of Energy have signed a memorandum of understanding (MoU) on the framework for connecting the power grids of both the countries, via 164-km-long line passing from Qurayyat (Saudi Arabia) to East Amman (Jordan).