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

French-based Total acquires 2.2 GW solar, 600 MW storage projects in Texas 

February 11, 2021
French-based Total SE—an integrated oil and gas company—has recently acquired a development pipeline of 2.2 GW of solar projects and 600 MW of battery energy storage systems (BESS) in Texas, from SunChase Power—a renewable energy company, developing utility-scale solar energy projects and MAP RE/ES—the renewable energy business of a private energy investment firm, MAP Energy.

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.

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

India and AIIB sign USD304 million loan deal for transmission project in Assam 

February 25, 2021
The Indian government and the Asian Infrastructure Investment Bank (AIIB) have recently signed a loan agreement of USD304 million for development of the Assam Intra-State Transmission System Enhancement project.

Australian TSO secures AUD600 million debt facility for planned transmission corridor 

February 18, 2021
The New South Wales (NSW) transmission system operator (TSO), TransGrid, has recently secured a bank debt facility worth AUD600 million to finance the planned grid augmentation on a proposed new transmission corridor commencing in the town of Wellington.

Indian KPTL’s Brazilian subsidiary acquires 51 per cent stake in Fasttel 

February 5, 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 signed an agreement to acquire a controlling stake of 51 per cent in Fasttel Engenharia Ltda, Brazil for an amount of USD8.80 million.

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.

Europe

EU’s INEA signs grant agreement for Baltic Synchronisation project [free access]

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

UAE-based FEWA’s ownership transferred to Emirates Investment Authority 

February 15, 2021
The United Arab Emirates’ (UAE) Federal Electricity and Water Authority’s (FEWA) ownership has been transferred to the UAE’s sovereign wealth fund, the Emirates Investment Authority, and now will be known as Etihad Water and Electricity (EWE).

Ghana’s GRIDCo receives grant to upgrade interconnection with Burkina Faso 

January 27, 2021
The European Union (EU), through the Agence Française de Développement (AFD), has approved additional financial support of EUR9.7 million in the form of a grant to Ghana Grid Company Limited (GRIDCo) for upgrading Ghana’s section under the Ghana–Burkina Faso grid interconnection.

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).