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Deal Watch

Reports on major debt, equity and M&A deals


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North America


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.

Eversource Energy acquires 115 kV line from Belmont Light 

December 27, 2016
Eversource Energy, a power transmission and distribution company, has acquired the ownership of a newly constructed 115 kV transmission line from Belmont Light, an electric utility based in Massachusetts, USA. With this, the utility has completed the development phase of Belmont's Blair Pond 115 kV substation and transmission line.



Latin America


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.

Spanish REE acquires Peruvian grid developer Redesur [free access]

January 25, 2017
Spanish power grid operator Red Electrica de Espana (REE) has acquired a 45 per cent share of the Peruvian electricity transmission network developer Red Eléctrica del Sur, S.A. (Redesur) from an infrastructure investment fund managed by AC Capitales.

Paraguay receives funds for Yacyretá-Ayolas-Villa Hayes Project 

January 23, 2017
Paraguay has received USD400 million from Mercado Común del Sur's (MERCOSUR) structural convergence fund Fondo para la Convergencia Estructural del (MERCOSUR-FOCEM), a USD100 million loan from the World Bank, and a EUR75 million loan from the European Investment Bank, for the construction of Yacyretá-Ayolas-Villa Hayes Line Project.

Paraguay's ANDE signs loans worth USD150 million for T&D works 

January 23, 2017
Paraguay's electricity company Administracion Nacional de Electricidad (ANDE) has signed a loan agreement worth USD150 million with CorporaciĂłn Andina de Fomento (CAF) or the Latin American Development Bank to carry out transmission and distribution (T&D) works in Asuncion and its surrounding areas.



Asia Pacific


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.

India’s PFC executes INR91 billion loan agreement with state utilities 

March 20, 2017
Indian central government-owned Power Finance Corporation (PFC) has executed a loan agreement worth INR91.28 billion with state-owned utilities Tamil Nadu Generation and Distribution Company (TANGEDCO) and Tamil Nadu Transmission Corporation (TANTRANSCO).

China’s Liaoning and Pakistan’s EMCO sign MoU to manufacture transmission equipment 

March 16, 2017
Liaoning Hualong Group of China and EMCO Industries Limited of Pakistan have signed a memorandum of understanding (MoU) to form a joint venture to manufacture high voltage engineering and electrical products to facilitate transmission of electricity in Pakistan.

KEPCO and GE sign MoU for HVDC infrastructure in South Korea 

March 16, 2017
South Korean power utility Korea Electric Power Corporation (KEPCO) and General Electric (GE) have signed a memorandum of understanding (MoU) to establish infrastructure for high voltage direct current (HVDC) in Bitgaram Energy Valley in Naju city in South Korea.



Europe


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.



Middle East & Africa


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.

Liberia’s energy ministry receives USD42 million loan and grants for energy efficiency project 

March 16, 2017
Liberia’s energy ministry has received a USD42.48 million combined loan and grant to facilitate the implementation of Liberia Energy Efficiency and Access Project (LEAP) which aims to increase the population's access to electricity from the current 2 per cent to 6 per cent by 2020, and to strengthen the electricity sector.

NEPAD-IPPF approves grants to DRC, Mozambique and Zambia for interconnector projects 

March 7, 2017
The NEPAD-Infrastructure Project Preparation Facility (IPPF) has approved USD3.88 million grants to the governments of the Democratic Republic of Congo (DRC), Mozambique and Zambia to finance completion of regional interconnection projects preparation works.