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Deal Watch

Reports on major debt, equity and M&A deals


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North America


Mayflower Wind acquires 1.2 GW interconnection queue position from Anbaric 

June 3, 2021
Mayflower Wind—a 50-50 joint venture (JV) between energy companies Shell New Energies, US and the newly-formed US arm of Ocean Winds (a JV between EDP Renewables and ENGIE)—recently acquired a 1.2 GW interconnection queue position from independent grid operator Anbaric at the retired Brayton Point coal-fired power plant site south of Boston, Massachusetts.

Agilitas Energy acquires Boston-based New England Battery Storage (NEBS) 

June 3, 2021
Agilitas Energy—a distributed energy developer—recently acquired Boston-based New England Battery Storage (NEBS)—a private energy storage developer focused on utility-scale battery storage.

Ontario Teachers’ Pension Plan to acquire Evoltz platform in Brazil [free access]

May 14, 2021
Ontario Teachers’ Pension Plan Board (Ontario Teachers) has recently announced that it has entered into a definitive agreement with TPG Capital (previously known as Texas Pacific Group)—a global alternative asset firm, to acquire 100 per cent interest in the electricity transmission platform—Evoltz, in Brazil.

CIB and ITC Investment Holdings sign agreement for Canada–US connection 

April 15, 2021
The Canada Infrastructure Bank (CIB) and ITC Investment Holdings (ITC) have recently signed an agreement to invest USD1.7 billion in the Lake Erie Connector Project.



Latin America


Celeo acquires power assets of Chilean Colbún at EUR1.1 million 

March 31, 2021
Celeo Redes, a joint venture (JV) between Spanish Elecnor (51 per cent) and Dutch pension fund manager APG Asset Management (49 per cent), has acquired Colbún's electricity grid business in Chile for about EUR1.104 million.

CABEI to extend USD40 million support to Nicaraguan transmission project 

March 23, 2021
Recently, the Central American Bank for Economic Integration (CABEI) approved the financial support of USD40.1 million to Nicaraguan grid developer Empresa Nacional de Transmisión Eléctrica S.A. (Enatrel), for the implementation of the Nicaragua's Electric Transmission System Expansion Programme.

Latin American CAF approves USD300 million for Uruguay's transmission network 

March 3, 2021
The Corporacion Andina de Fomento (CAF), or the Development Bank of Latin America, has approved a loan of USD300 million to Uruguay's state-run power company, Administracion Nacional de Usinas y Trasmisiones Electricas (UTE), for implementing the Electric Sector Strengthening Programme – Phase III.

ITAIPU grants USD203 million to ANDE to strengthen Paraguayan electricity system 

March 1, 2021
Recently, the Paraguayan government approved financial support of USD203 million for the country’s state-owned power company, Administración Nacional de Electricidad (ANDE), from Itaipu Binacional, operator of the Itaipu hydro power project (HPP) on Paraná River at the Brazil–Paraguay border.



Asia Pacific


Indian Sterlite Power obtains INR5.8 billion funding for 400 kV Udupi–Kasargode project 

June 16, 2021
Indian private transmission network developer, Sterlite Power Transmission Limited (SPTL), has received a debt funding of INR5.8 billion from Rural Electrification Corporation Limited (REC), for Udupi Kasargode Transmission Limited (UKTL)—a special purpose vehicle (SPV) set up for the implementation of the 400 kV Udupi–Kasargode project.

Indian POWERGRID acquires SPV Sikar-II Aligarh Transmission 

June 8, 2021
India’s largest grid network developer, Power Grid Corporation of India (POWERGRID), has acquired Sikar-II Aligarh Transmission (SATL) Limited from PFC Consulting—a wholly-owned subsidiary of Power Finance Corporation (PFC).

Indian KEC signs novation agreement for works on Warora–Kurnool project 

April 19, 2021
The Indian engineering, procurement and construction (EPC) major, KEC International, has recently signed a novation agreement worth INR4.77 billion with Warora–Kurnool Transmission Limited (WKTL)—a special project vehicle (SPV) owned by Adani Transmission Limited (ATL).

Indian KPTL’s Brazilian subsidiary completes acquisition of 51 per cent stake in Fasttel 

April 7, 2021
The Indian engineering, procurement and construction (EPC) major Kalpataru Power Transmission Limited’s (KPTL) wholly-owned subsidiary—Kalpataru Power do Brasil Participações Ltda—has recently completed the acquisition of a 51 per cent controlling stake in Fasttel Engenharia Ltda., Brazil.



Europe


NIB extends loan to unlock renewable energy and strengthen Icelandic grid 

June 14, 2021
The Nordic Investment Bank (NIB) has signed a 10-year loan deal with Iceland’s transmission system operator (TSO) Landsnet to increase transmission capacity, stability and reliability of the system by unlocking renewable power.

German TSO TransnetBW establishes JV with Porsche subsidiary MHP 

June 1, 2021
Porsche subsidiary MHP and Germany-based electricity transmission system operator (TSO) TransnetBW, a 100-per-cent subsidiary of the energy supplier EnBW, are set to work more closely together in future, to advise other companies on energy and mobility issues.

Serbia's EMS to get EUR12.8 million EU grant for 400 kV line 

May 9, 2021
Serbian power system operator Elektromreza Srbije (EMS) has signed an agreement with the energy ministry to receive a EUR12.8 million European Union (EU) grant for the construction of the 400 kV Obrenovac¬¬–Bajina Basta power transmission line.

Denmark’s TSO Energinet announces merger of twin subsidiaries 

May 7, 2021
Denmark’s state-owned transmission system operator (TSO) Energinet has announced that it would merge its twin subsidiaries to form a single gas and power system operator, the Electricity System Operator and Gas TSO.



Middle East & Africa


World Bank approves USD465 million regional electricity access and battery storage project in West Africa 

June 16, 2021
Recently, the World Bank has approved financing worth USD465 million for executing the Regional Electricity Access and Battery-Energy Storage Technologies (BEST) Project for the member countries of the Economic Community of West African States (ECOWAS).

Zanzibar gets approval for USD142 million ZESTA Project 

June 15, 2021
The World Bank has approved USD142 million of funding for the implementation of the Zanzibar Energy Sector Access and Transformation (ZESTA) Project, which aims to modernise Zanzibar's electricity network and integrate the upcoming renewable energy (RE) installations into the grid.

Financial support extended by EIB, EU for 225 kV Guinea–Mali link 

April 26, 2021
The European Investment Bank (EIB) and the European Union (EU) will provide financial assistance worth EUR330 million for the development of the 225/30 kV Projetd’ Interconnexion Électrique Guinée Mali (PIEGM) or the Guinea–Mali Electric Interconnection Project, which will evacuate power from both countries’ hydropower plants (HPPs) and provide millions of people in West Africa with access to clean and affordable energy.

Angola receives USD530 million of financial support from AfDB for 400 kV line 

March 16, 2021
The African Development Bank (AfDB) will provide financial support worth USD530 million for the construction of the 343-km-long, 400 kV Huambo–Lubango transmission line project.