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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


CIB and ITC Investment Holdings sign agreement for Lake Erie 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.

FERC approves sale of GridLiance to NextEra Energy Transmission 

March 30, 2021
The Federal Energy Regulatory Commission (FERC) recently approved the sale of GridLiance Holdco, LP and GridLiance GP, LLC (together, GridLiance) to NextEra Energy Transmission (NEET), LLC—a subsidiary of NextEra Energy Inc.

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.



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 KEC signs novation agreement for commencing works on 765 kV 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.

India’s Adani Transmission to acquire 765 kV Warora–Kurnool project for INR33.7 billion 

March 29, 2021
India's private transmission company Adani Transmission Limited (ATL), has signed a definitive agreement with Essel Infraprojects Limited (EIL) for the acquisition of its special project vehicle (SPV) Warora–Kurnool Transmission Limited, for an enterprise value of INR33.7 billion.

India’s IndiGrid completes acquisition of NER-II Transmission project 

March 29, 2021
India’s leading infrastructure investment trust (InvIT), India Grid Trust (IndiGrid), has completed the largest transmission project deal by acquiring NER-II Transmission from Sterlite Power Transmission Limited (SPTL), for an enterprise value of INR46.25 billion.



Europe


Denmark’s TSO secures EUR134 million loan from NIB for Viking Link [free access]

March 22, 2021
The Nordic Investment Bank (NIB) has awarded a 10-year EUR134 million loan to the Danish power transmission system operator (TSO) Energinet to finance the construction of the Viking Link, a proposed 1.4 GW high voltage direct current (HVDC) electricity interconnection between Denmark and the UK.

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.



Middle East & Africa


EIB, EU extend financial support 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.

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.