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

Canadian Solar sells majority stake in California battery energy storage project 

September 9, 2021
Canadian Solar’s project development subsidiary, Recurrent Energy, has sold an 80 per cent stake in its 350 MW/1,400 MWh Crimson energy storage project in California, to an investment portfolio management firm Axium Infrastructure. Recurrent Energy will retain the remaining 20 per cent stake.

230 kV Sabanitas–Panama III Electric Transmission Line and Associated Substations Project, Panama 

September 6, 2021
The project will facilitate the evacuation of future generation from the province of Colón, which will also provide an alternative electricity supply corridor to the province of Panama.

American Clean Power Association and US Energy Storage Association announce merger 

August 24, 2021
In a recent development, the American Clean Power Association (ACP) and the US Energy Storage Association (ESA) announced that ESA’s member companies approved the merger to join ACP from January 1, 2022.

Camus Energy secures USD16 million Series A to advance grid management, support utilities 

July 22, 2021
Camus Energy, a leading provider of advanced grid management technology, recently announced that it has secured USD16 million in a Series A round (i.e., the company’s first round of venture capital financing), led by Park West Asset Management and joined by Congruent Ventures, Wave Capital and other investors, including an investor-owned utility (IoU).

Latin America

Brazil's Eletronorte signs share purchase agreement for NBTE with Leovac Participacoes 

September 9, 2021
Brazilian Centrais Elétricas do Norte do Brasil (Eletronorte), a subsidiary of state-run power company Centrais Elétricas Brasileiras SA (Eletrobras), has signed a Comissão de Valores Mobiliários (CVM) or Share Purchase Agreement for Norte Brasil Transmissora de Energia S.A. (NBTE), with Leovac Participacoes SA for BRL700 million.

IDB Invest provides USD67 million for Cardal Transmission Project in Uruguay 

September 7, 2021
IDB Invest, a member of IDB Group, has provided a USD67 million financial package for Tealov S.R.L (Tealov), a Uruguayan special purpose company (SPV) sponsored by Invenergy Renewables Global LLC (Invenergy) to develop the Cardal Transmission Project in Uruguay. This financial boost comprises an USD11.5 million loan and a USD55.5 million worth B-bond.

Paraguayan ANDE borrows USD155 million from IaDB and JICA for 500 kV transmission project 

August 30, 2021
Paraguayan electric power utility Administracion Nacional de Electricidad (ANDE) has signed a loan agreement of USD155 million with the Inter-American Development Bank (IaDB) and the Japan International Cooperation Agency (JICA) to finance a transmission project.

Chilean FNE approves sale of Colbún Transmisión to Alfa Desarrollo 

August 12, 2021
The Fiscalía Nacional Económica (FNE) or National Economic Prosecutor's Office of Chile has approved the acquisition of Colbún Transmisión, a subsidiary of Chilean electric power company Colbún, by Alfa Desarrollo, a joint venture (JV) comprised of Dutch pension fund APG and Chilean Celeo Redes.

Asia Pacific

Pakistan’s NTDC secures PKR6.4 billion for clean energy transmission project 

July 20, 2021
Pakistan’s state-owned high voltage network developer, National Transmission and Despatch Company Limited (NTDC), has secured a PKR6.4 billion financing facility for building a transmission corridor to evacuate 1,224 MW of renewable energy generated by wind power plants located at Gharo–Jhimpir wind corridor.

Japan’s University, Italy's ASG signs MoU to develop DC superconducting cables 

July 7, 2021
Japan’s Chubu University and Italy’s ASG Superconductors SpA have signed a Memorandum of Understanding (MoU) to facilitate the development of superconducting cable technology for direct current (DC) power transmission over long distances.

Uzbekistan obtains World Bank support for green energy project 

June 30, 2021
The World Bank’s Board of Executive Directors has recently approved Uzbekistan’s “Electricity Sector Transformation and Resilient Transmission Project”.

Indian Sterlite Power obtains 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.

Europe

Grid assets of Beatrice offshore wind farm off Scotland to be sold 

August 2, 2021
Scotland’s Beatrice Offshore Wind Farm Limited has signed an agreement with the UK’s Transmission Capital Partners to sell its offshore transmission assets—valued at GBP438 million—of the 588 MW Beatrice offshore wind farm.

EU funds GE's 245 kV g-cubed circuit-breaker to accelerate grid decarbonisation 

July 20, 2021
GE Renewable Energy's Grid Solutions business has been awarded EUR2.5 million through the European Commission's (EC) LIFE climate action programme, to help fund the development of a sulphur hexafluoride (SF6)1-free, 245 kV g³ live tank circuit breaker.

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.

Middle East & Africa

Egyptian EETC signs EGP4 billion syndicate loan contract [free access]

August 23, 2021
The Egyptian Electricity Transmission Company (EETC) has signed an EGP4 billion loan deal with the National Bank of Egypt (NBE), Commercial International Bank-Egypt (CIB), Banque du Caire, and the National Bank of Kuwait (NBK).

AfDB grants USD6 million for West African Sahel Transmission Backbone 

July 12, 2021
The African Development Bank (AfDB) has approved a grant worth USD6 million for launching the initial phase of the Desert to Power West Africa Regional Energy Programme, which is an AfDB initiative expected to transform the Sahel region by harnessing the region's abundant solar potential.

Indian Exim Bank lends USD35 million for executing 225 kV project in Senegal 

July 12, 2021
The Export-Import Bank (EXIM Bank) of India has extended a loan of USD35.26 million for executing a 225 kV transmission line project in Senegal, which is being executed by Indian engineering, procurement and construction (EPC) major Kalpataru Power Transmission Limited (KPTL).

Japanese JBIC signs loan agreement with Saudi’s SEC for T&D projects 

July 8, 2021
The Japan Bank for International Cooperation (JBIC) has signed a loan agreement worth USD500 million with Saudi Electricity Company (SEC), of which JBIC's portion is USD250 million.