Deal Watch

Reports on major debt, equity and M&A deals

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North America Latin America Asia Pacific
Europe Middle East & Africa

North America

GridTek announces acquisitions of American Power and Valiant Energy Services 

May 2, 2022
GridTek Utility Services, a leading provider of electrical transmission and distribution maintenance, repair and upgrade services for utility and industrial customers, and a First Reserve portfolio company, announced it has successfully signed and closed on the simultaneous acquisitions of American Power, LLC and Valiant Energy Services, LLC.

UK’s Babcock International sells OHL business [free access]

January 13, 2022
British engineering firm, Babcock International Group PLC, has sold its overhead line (OHL) power business to infrastructure service provider, M Group Services (MGS), which is backed by international private equity firm PAI Partners.

Goldman Sachs to invest USD250 million in Hydrostor to boost energy storage 

January 12, 2022
Goldman Sachs announced USD250 million investment in long-duration energy storage provider, Hydrostor, which uses novel, advanced compressed air energy storage (A-CAES) technology.

MasTec completes acquisition with Henkels & McCoy Group 

December 30, 2021
MasTec, Inc announced that it has completed the acquisition of Henkels & McCoy Group, Inc. (Henkels), one of the leading private electrical power transmission and distribution (T&D) construction firms in the US.

Latin America

Brazilian Eletrobras sells stake in CEEE–T to CPFL Energia [free access]

April 6, 2022
Brazilian state-run power company Centrais Eletricas Brasileiras SA’s (Eletrobras) has announced the sale of its stake of 32.66 per cent in the energy transmission firm Companhia Estadual de Transmissao de Energia Eletrica (CEEE–T) to CPFL Energia S.A., for BRL1.10 billion.

Brazilian GBS raises BRL600 million for three transmission projects 

March 29, 2022
GBS Participacoes S.A., a subsidiary of Sterlite Brazil Participacoes SA, has raised BRL600 million through a green debenture issue to finance three transmission line projects in Brazil at a more competitive capital cost.

IaDB to fund Paraguay’s transmission system upgrade 

March 10, 2022
The Inter-American Development Bank (IaDB) has approved a loan worth USD260 million to support the Plan Nacional de Desarollo Paraguay 2030 or Paraguay National Development Plan 2030 through the expansion of the electricity transmission system, to provide the country with sustainable, reliable and efficient energy supply.

Brazilian Energisa acquires Gemini for BRL822 million [free access]

February 18, 2022
Brazilian energy company, Energisa Transmissão de Energia, has entered into an agreement to acquire power transmission company Gemini Energy S.A. for BRL822 million.

Asia Pacific

Abu Dhabi-based IHC completes investment in Indian Adani Group 

May 17, 2022
International Holding Company PJSC (IHC), the Abu Dhabi-based conglomerate, has completed its USD2 billion (INR154 billion) investment transaction with three subsidiaries of India’s Adani Group—Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL).

India approves JV with Nepal for second 400 kV cross-border line 

May 16, 2022
The Indian government has approved the establishment of a joint venture (JV) with state-owned power utility Nepal Electricity Authority (NEA) to develop the 400 kV Butwal (Nepal)–Gorakhpur (India) second transnational transmission line.

Indian POWERGRID acquires Khetri–Narela Transmission 

May 12, 2022
India’s state-owned Power Grid Corporation of India Limited (POWERGRID) has acquired 100 per cent equity of Khetri–Narela Transmission Limited (KNTL) for INR22.50 million, including 10,000 equity shares at par at INR10 each along with assets and liabilities of the company, from the bid processor PFC Consulting Limited (PFCCL).

Indian NTPC partners with Energy Vault for gravity-based energy storage technology 

April 28, 2022
Indian government-owned electric company, NTPC Limited, has announced the signing of a memorandum of understanding (MoU) with Energy Vault Holdings, Inc., a Switzerland-based grid-scale energy storage solutions provider, for gravity-based energy storage technology.

Europe

EBRD loans EUR20 million for upgrade of Bosnia’s transmission grid 

April 13, 2022
The European Bank for Reconstruction and Development (EBRD) has granted a EUR20 million loan to Bosnia and Herzegovina’s transmission system operator (TSO) Elektroprenos BiH, for modernisation of its core telecommunication systems, in order to improve the efficiency and management of the TSO’s electricity substations and distribution systems.

Danish Energinet secures EUR202 million loan from NIB for Viking Link 

March 8, 2022
Danish power transmission system operator (TSO) Energinet has secured a 10-year, EUR202 million loan from the Nordic Investment Bank (NIB) to finance the construction of Viking Link, a proposed 1.4 GW, 740-km high voltage direct current (HVDC) electricity interconnection between Revsing in South Jutland, Denmark and Bicker Fen in Lincolnshire, UK.

Ukraine’s Ukrenergo signs grant agreement with Germany’s KfW 

February 1, 2022
Ukraine’s transmission system operator (TSO) National Power Company Ukrenergo (NPC Ukrenergo or Ukrenergo), has signed a grant agreement worth EUR1.7 million with KfW Entwicklungsbank (KfW Development Bank) for renovation and automation of the 330 kV Podilska substation situated in the Odesa region under the ‘Increasing the Efficiency of Electricity Transmission III (Integration of Ukraine’s Energy System into the European Energy System) project.

EU grants EUR1 billion for cross-border energy infrastructure projects 

January 26, 2022
The European Union (EU) has granted EUR1 billion under its Connecting Europe Facility (CEF) for multiple cross-border energy infrastructure projects, which include the 400 kV Sweden-Finland Aurora interconnector, the EuroAsia Interconnector, and the Baltic States’ synchronisation project.

Middle East & Africa

India’s Exim Bank approves USD165 million loan for Cameroon’s 400 kV line 

May 18, 2022
The Export-Import Bank of India (Exim Bank) has approved a USD164.69 million (or about XAF97.8 billion) loan to construct a power line between Nachtigal and Bafoussam to evacuate electricity from the future 420 MW Nachtigal hydroelectric plant, in the Center region of Cameroon to the West region.

AfDB approves USD180 million loan to reinforce Rwanda’s transmission connectivity 

May 2, 2022
The African Development Bank (AfDB) has approved USD180 million in loans to improve transmission and last-mile connectivity. The project will include the construction of 137 km of high voltage line and six substations to strengthen the grid.

Cameroon borrows USD165 billion for 400 kV Nachtigal–Bafoussam line 

April 6, 2022
Cameroon will borrow USD164.69 million to construct a power line between Nachtigal and Bafoussam to evacuate electricity from the future 420 MW Nachtigal hydroelectric plant, in the Center region of Cameroon, to the West. A loan agreement was signed with Export-Import Bank of India (Exim Bank) for USD164.69 million (or about XAF97.8 billion), for the financing of the 400 kV transmission line, as well as related works.

KFAED signs loan agreement with GCCIA for extending grid connection 

March 26, 2022
The Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement worth USD115.5 million with the Gulf Cooperation Council Interconnection Authority (GCCIA) for financing of the development of the GCC electricity interconnection system and further connecting it with the Iraq’s grid.