Deal Watch: North America

Reports on major debt, equity and M&A deals from 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.

• GE Digital to acquire Opus One to advance energy transition

  December 22, 2021
  GE Digital has entered into an agreement to acquire Opus One Solutions Energy Corporation (Opus One), a software company that helps electric utilities optimise energy planning, operations, and market management.

• MasTec inks agreement to acquire US-based Henkels & McCoy Group Inc

  December 20, 2021
  MasTec, Inc. has signed a definitive agreement to acquire Henkels & McCoy Group Inc., one of the leading private electrical power transmission and distribution utility construction firms in the US.

• PNM closes deal on Western Spirit transmission line

  December 14, 2021
  The wholly-owned subsidiary of PNM Resources, Public Service Company of New Mexico (PNM), announced that it has closed on its purchase of the Western Spirit transmission line, and service under the transmission service agreements has begun.

• TransWest Express sells 1.5 GW capacity of Wyoming─Nevada line to PCW

  December 7, 2021
  TransWest Express LLC (a wholly-owned affiliate of The Anschutz Corporation) has agreed to sell 1,500 MW of capacity on the Wyoming─Nevada transmission line [also known as the TransWest Express (TWE) Project] to Power Company of Wyoming (PCW).

• NextEra sells 50 per cent renewable and storage portfolio to OTPP

  November 30, 2021
  NextEra Energy Resources LLC, a subsidiary of NextEra Energy Inc, has announced the completion of a 2,520-MW portfolio of wind, solar, and energy storage assets spread across nine states in the US.

• Canadian CSI Solar inks framework agreement with Contemporary Amperex Technology

  November 24, 2021
  Canadian Solar's CSI Solar business unit announced the signing of a framework agreement with Contemporary Amperex Technology Company Limited (CATL), to collaborate on battery energy storage systems (BESS), lithium-ion battery module supply, battery storage project operation and maintenance services, and innovative renewable energy technology.

• Breakthrough Energy Ventures, National Grid Partners and NextEra invest in TS Conductor

  November 17, 2021
  San Clemente-based TS Conductor Corp. has raised USD25 million through a Series A funding round.

• Bentley Systems inks agreement to acquire Power Line Systems

  November 16, 2021
  Bentley Systems Incorporated, an infrastructure engineering software company, announced that it has reached a definitive agreement with private equity firm TA Associates to buy Power Line Systems for USD700 million.

• USTDA provides grant for feasibility study by WAPP

  November 12, 2021
  The US Trade and Development Agency (USTDA) has approved a grant for undertaking a feasibility study led by the West African Power Pool (WAPP) for a 225 kV transmission line to connect Ivory Coast with Liberia. The aim of the project is to expand access to electricity in West Africa through new transmission infrastructure.

• Plus Power achieves financial closure of 185 MW energy storage project

  November 10, 2021
  Plus Power, an independent developer of transmission-connected battery energy storage facilities in Hawaii, announces the completion of a credit facility for its 185 MW/565 MWh Kapolei Energy Storage (KES) project.

• Q CELLS acquires first BESS project

  November 10, 2021
  Q CELLS USA Corp. announced the purchase of the 190 MW/380 MWh Sputnik Energy Storage project, Belltown Power Texas, LLC (Belltown).

• US DOE awards USD3.7 million grant to GE for US electrical grid decarbonisation

  October 28, 2021
  General Electric (GE) announced that it has been awarded a total of USD3.7 million in funding from the US Department of Energy’s (DOE) Advanced Research Projects Agency-Energy (ARPA-E) for two related projects to help accelerate the decarbonisation of the US electrical grid.

• Texas PUC asks operators to boost grid’s resiliency

  October 28, 2021
  According to the new rules approved by the Texas Public Utility Commission (PUC) to boost the grid's resiliency during winter, operators of power plants and transmission lines that are part of the Texas electric grid have until December 1, 2021 to fix known problems that led to failures during last February's deadly freeze.

• Algonquin's Liberty to acquire AEP subsidiaries for USD2.8 billion

  October 26, 2021
  Liberty Utilities Co., an indirect subsidiary of Algonquin Power & Utilities Corporation, has agreed to acquire Kentucky Power Company and AEP Kentucky Transmission Company Inc. (Kentucky TransCo) from American Electric Power (AEP) for a total purchase price of approximately USD2,846 million, including the assumption of approximately USD1,221 million in debt.

• Quanta Services completes Blattner acquisition

  October 19, 2021
  Quanta Services Inc. announced that it has completed the acquisition of Blattner Holding Company (Blattner), one of the largest and leading utility-scale renewable energy infrastructure solutions providers in North America Blattner, based in Avon, Minnesota, provides front-end engineering, procurement, project management, and construction services for wind, solar, and energy storage and transmission projects.

• PPL Corp to acquire SOO Green

  September 27, 2021
  Pennsylvania-based PPL Corporation has announced that it has reached an agreement to acquire an ownership position in the proposed 525 kV underground high voltage direct current (HVDC) SOO Green Link aimed at connecting the Midcontinent Independent Service Operator (MISO) and PJM Interconnection regional energy markets.