Deal Watch: Latin America

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

• EDP sells three transmission assets to Actis in Brazil [free access]

  December 29, 2021
  EDP Energias do Brasil, Brazilian subsidiary of Portuguese energy company Energias de Portugal (EDP), concluded the sale with Actis Assessoria Investimentos Ltda., a leading global investor in sustainable infrastructure, of three transmission line concessions involving 439 km of line length and a Receita Anual Permitida (RAP) or Allowed Annual Revenue of BRL131 million.

• CABEI to finance transmission system expansion in Honduras and Nicaragua

  October 27, 2021
  The Central American Bank for Economic Integration (CABEI) has approved non-reimbursable technical cooperation to finance seven feasibility studies for USD1.4 million, to expand and strengthen the electricity transmission systems in Honduras and Nicaragua.

• EDP buys Celg T at auction; to sell three transmission assets to Actis in Brazil

  October 18, 2021
  Pequena Central Hidrelétrica, controlled by Energias de Portugal (EDP), has won the bid to acquire Celg Transmissão S.A (Celg T) for BRL1.977 billion at a recent auction held in Brazil.

• IDB Invest to finance Tacuarembó–Salto line in Uruguay

  October 4, 2021
  IDB Invest, a member of the Inter-American Development Bank Group (IaDB), will be financing the first green transmission line in Uruguay.

• Brazilian Eletronorte sells stake in transmission company

  September 25, 2021
  Brazilian state-run power company Centrais Eletricas Brasileiras SA’s (Eletrobras) subsidiary Centrais Elétricas do Norte do Brasil SA (Eletronorte) has sold its stake in Norte Brasil Transmissora de Energia SA (NBTE) worth USD140 million.

• IDB Invest extends USD88 million for Uruguay’s green transmission lines

  September 25, 2021
  IDB Invest, the private sector arm of the Inter-American Development Bank (IaDB), has provided USD8.6 million for the construction of new green transmission lines in Uruguay.

• BNDES approves funding for 390 MW transmission projects in Brazil

  September 22, 2021
  The Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the Brazilian Development Bank has approved a loan of BRL166 million for the development of transmission projects for 390 MW of solar and hydropower plants (HPPs).

• Energía de Colombia secures financing for Atlántico project

  September 13, 2021
  Colombian electric transmission concessionaire Energía de Colombia STR SAS ESP has secured financing for the development of the 23-km Atlántico transmission line and associated substations in the Sistema de Transmisión Regional (STR) in the Department of Atlántico.

• 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.

• Spanish Naturgy Group completes sale of Chilean CGE to Chinese SGCC

  July 27, 2021
  Spanish Naturgy Group has concluded the sale of its electricity network business in Chile to the Chinese State Grid International Development Limited (SGID)—a wholly-owned subsidiary of State Grid Corporation of China (SGCC)—following the successful completion of the tender offer launched by SGID, as a necessary and final step to complete the transaction.

• Brazil's Eletronorte signs debt confession instrument with AmE [free access]

  July 19, 2021
  Brazilian Centrais Elétricas do Norte do Brasil S.A. (Eletronorte), a subsidiary of state-owned power utility Elétricas Brasileiras S.A. (Eletrobras), has signed a Confissão de Dívidas or Debt Confession Instrument (ICD) of BRL808.75 million with Amazonas Energia SA (AmE), aimed at renegotiating the debt held by AmE with Eletronorte.

• Board of Directors of Eletrobras approves sale of NBTE’s stake

  July 12, 2021
  The Board of Directors of Brazilian Eletrobras has approved the sale of its stake in Norte Brasil Transmissora de Energia S.A. (NBTE) for BRL700 million.

• Chilean SAESA acquires Tolchén Transmisión for USD36 million

  July 12, 2021
  Chile-based Grupo SAESA, an electricity utility owned by the Canadian Ontario Teachers Pension Plan Board (OTPPB) and Alberta Investment Management Corporation (AIMCo), has acquired Tolchén Transmisión—a subsidiary of Spanish Group Acciona—for about USD36 million.

• 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.