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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


Pattern Energy acquires interest in Broadview Wind Project and Western Interconnect 

April 26, 2017
Pattern Energy Group Incorporated, a subsidiary of Pattern Development, has acquired interests in the 324 MW Broadview Wind power facilities, and associated 35-mile (56-km), 345 kV Western Interconnect transmission line from Pattern Energy Group LP (Pattern Development) for USD269 million.

FortisOntario acquires RES shares in Wataynikaneyap Transmission Project 

March 11, 2017
Wataynikaneyap Power has announced that FortisOntario Incorporated (FortisOntario), through its parent company Fortis Incorporated, has completed a transaction to acquire shares of Renewable Energy Systems Canada Inc. (RES) in Wataynikaneyap Transmission Project

US Bankruptcy Court confirms bankruptcy-exit plan of EFH 

February 17, 2017
US Bankruptcy Court has confirmed the bankruptcy-exit plan of Oncor owner Energy Future Holdings (EFH). This has taken the Oncor acquisition plan of NextEra Energy Incorporated one more step closer to completion.

US's FERC approves NextEra's acquisition of Oncor 

January 12, 2017
The US's Federal Energy Regulatory Commission (FERC) has approved the acquisition of Oncor Electric Delivery Company—a subsidiary of Energy Future Holdings (EFH), by NextEra Energy Inc.



Latin America


Brazilian Eletrosul to transfer BRL3.27 billion transmission project to Chinese SPTDE 

June 6, 2017
Reportedly, Eletrosul Centrais Elétricas S.A. (Eletrosul), a subsidiary of Centrais Elétricas Brasileiras S.A. (Eletrobras), has signed a preliminary agreement with Shanghai Electric Power Transmission and Distribution Engineering (SPTDE), a subsidiary of the Chinese company Shanghai Electric, to transfer control of Transmission System Development in Rio Grande do Sul project.

IIC approves USD56 million financing package for 500 kV Melo–TacuarembĂł project in Uruguay 

May 11, 2017
Inter-American Investment Corporation (IIC)—the private sector lending arm of Inter-American Development Bank (IaDB) group, has approved a USD56 million financing package for a 500 kV Melo–Tacuarembó project in Uruguay.

Brazilian CTEEP acquires 100 per cent stake in IENNE 

May 8, 2017
Companhia de Transmissão de Energia Elétrica Paulista (CTEEP)—a Brazilian subsidiary of Colombian state-owned power company Interconexión Eléctrica S.A. (ISA), has exercised its rights to acquire the entire equity interest of the country’s local concessionaire Interligação Elétrica Norte e Nordeste (IENNE), from Spanish company Isolux Energia e Participações S.A. (Isolux) and local power company Construções e Participações S.A (Cymi Holding).

Brazilian BNDES approves BRL2.56 billion funds for first transmission line of Belo Monte project 

February 20, 2017
The Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the National Development Bank of Brazil has approved long-term financing of about BRL2.56 billion for the construction of the first transmission line project associated with the Belo Monte hydro power project (HPP), in the State of Pará.



Asia Pacific


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.

Japan extends loan for Pakistan’s transmission project 

May 4, 2017
The Japanese government has extended a loan worth USD26 million to the Pakistan government for the implementation of the Transmission System Network Reinforcement Project in Islamabad and Burhan in Pakistan.

World Bank approves loan for power network efficiency project in Bangladesh 

May 1, 2017
The World Bank has approved a loan worth USD59 million for the implementation of the Power System Reliability and Efficiency Improvement Project in Bangladesh.

ADB extend loans to improve interstate transmission networks in India 

March 29, 2017
The Asian Development Bank (ADB) has approved USD175 million loans to India’s grid developer Power Grid Corporation of India Limited (POWERGRID) to implement the Solar Transmission Sector Project which will to help India diversify its power mix by increasing its supply of clean energy, particularly solar, to achieve energy security.



Europe


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.



Middle East & Africa


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.

AfDB extends USD35 million for 330 kV ZiZaBoNa interconnection project 

April 4, 2017
The African Development Bank (AfDB) has extended a loan worth USD35 million for the implementation of the 330 kV Zimbabwe–Zambia–Botswana–Namibia (ZiZaBoNa) project, aimed at connecting the power grids of the four countries. The funding has been injected at a time when the project is expected to reach financial closure in 2018.

AFD extends ZAR6 billion support to South Africa’s Eskom 

March 20, 2017
South African Eskom Holdings SOC Limited (Eskom) and Agence Française de Développement (AFD) have signed a framework contract worth ZAR6 billion to support Eskom’s investments in the extension and strengthening of its electricity transmission network.