Deal Watch: Latin America

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

• IaDB loans USD280 million to Ecuador for transformation of energy grid

  June 8, 2020
  The Inter-American Development Bank (IaDB) has approved a loan worth USD280 million to Ecuador, which will used for the transformation of the country’s energy grid, improvements in energy efficiency, and promotion of access to electricity generated from renewable sources.

• Indian Sterlite completes sale of two transmission assets in Brazil [free access]

  March 26, 2020
  India’s Sterlite Power Transmission Limited has completed the sale of two of its transmission assets in Brazil.

• Brazilian TAESA acquires two SPEs from Amber Energia

  March 16, 2020
  Brazil electric power transmission company, Transmissora Alianca de Energia Eletrica SA (TAESA), has completed the purchase of two transmission special purpose entities (SPEs) of Brazilian J&F Investimentos SA’s energy arm, Amber Energia.

• Sterlite Brazil completes sale of Sterlite Novo Estado Energia SA to Engie

  March 12, 2020
  Sterlite Brazil Participacoes SA (subsidiary of Indian Sterlite Power Transmission Limited) has completed the sale of its special purpose entity (SPE), Sterlite Novo Estado Energia SA, to Engie Transmissao, a unit of Brazilian utility Engie Brasil Energia SA.

• ANEEL approves merger of TDG and Chesf in Brazil [free access]

  February 4, 2020
  Brazilian energy regulator, Agência Nacional de Energia Elétrica (ANEEL), has approved the merger of the special purpose entity (SPE) of Centrais Elétricas Brasileiras SA (Eletrobras)—Transmissora Delmiro Gouveia (TDG), with its subsidiary Companhia Hidro Eletrica do Sao Francisco (Chesf).

• Mexican CFE awards cable contract worth USD38 million to Prysmian Group

  January 15, 2020
  Prysmian Group, an Italian multinational dedicated to the manufacture of cables and transmission systems for the electricity and telecommunications industries, has been awarded a new contract worth about USD38 million by the Mexican state-owned power utility, Comision Federal de Electricidad (CFE) for the project “Proyecto de Conectividad Fibra Óptica Red Eléctrica Inteligente REI” in Mexico.

• Northland Power closes acquisition of Colombian EBSA

  January 14, 2020
  Canada-based Northland Power Inc. has announced the closing of the acquisition deal of Colombian regulated utility, Empresa de Energía de Boyacá (EBSA). The former has acquired 99.2 per cent stake in EBSA from Fondo de Capital Privado de Infraestructura Brookfield Colombia and BCIF Holdings Colombia II S.A.S. (also known as Brookfield Infrastructure).

• Eletrosul and CGTEE approve merger to form Eletrobras CGT Eletrosul

  January 3, 2020
  The shareholders of two subsidiaries of Brazil's federal power utility, Centrais Eletricas Brasileiras SA (Eletrobras)—Eletrosul Centrais Elétricas S.A. (Eletrosul) and Companhia de Geracao Termica de Energia Eletrica (CGTEE)—have approved at Extraordinary General Meetings held on January 1, 2020, the merger of both companies

• Brazilian BNDES approves BRL2.45 billion loan to Neoenergia [free access]

  December 27, 2019
  Brazilian state-owned Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the National Bank for Economic and Social Development has approved a BRL2.45 billion loan for three projects of Neoenergia, a part of Spanish group Iberdrola, in Brazil.

• IaDB approves USD500,000 for Colombia–Panama interconnection

  December 12, 2019
  The Inter-American Development Bank (IaDB) has approved funds of USD500,000 to complete studies for the Colombia–Panama energy interconnection project.

• CAF approves USD250 million loan for Paraguayan ANDE

  December 2, 2019
  The Banco de Desarrollo de América Latina (CAF) or Development Bank of Latin America has approved a loan line for the state-owned power company, Administración Nacional de Electricidad (ANDE), of USD250 million for the Programa de Mejoramiento del Sistema de Transmisión y Distribución de Electricidad y de Modernización de la Gestión de la Distribución de la República del Paraguay or Program for Improvement of the Electricity Transmission and Distribution System and Modernisation of Distribution Management of the Republic of Paraguay.

• Construtora Quebec and Terna conclude acquisition of Transmissora de Energia Linha Verde II SA

  November 12, 2019
  Brazilian energy firm Construtora Quebec and Italian grid developer Terna, through its subsidiary Terna Plus—a Group company responsible for the development of international operations, have closed the deal to acquire the 500 kV, 189 km, Presidente Juscelino–Itabira 5 C2 line project (Lot 8 of Auction no. 02/2017).

• Chilean Chilquinta Energía acquires Eletrans SA

  November 5, 2019
  Chilean distribution company Chilquinta Energía S.A. (a part of US-based Sempra Energy) has acquired of the remaining 50 per cent stake in Chilean transmission firm, Eletrans SA, from Sociedad Austral de Electricidad S.A. (SAESA).

• Brazilian Chesf acquires 100 per cent stake in TDG

  November 1, 2019
  Brazilian utility, Companhia Hidro Eletrica do Sao Francisco (Chesf) — a subsidiary of Centrais Eletricas Brasileiras SA (Eletrobras) — took control of Transmissora Delmiro Gouveia (TDG), after paying BRL34 million for a 27.69 per cent stake held by partner Future ATP Serviços de Consultiva Engenharia. As a result, TDB has become the wholly-owned company of Chesf.

• Sempra Energy signs agreement to sell Chilean business to SGID

  October 14, 2019
  San Diego-based Sempra Energy has entered into an agreement to sell its equity interests in its Chilean businesses to State Grid International Development Limited (SGID), a wholly-owned subsidiary of State Grid Corporation of China (SGCC).

• Brazilian BNDES allots BRL1.76 billion loan for 525 kV project

  October 10, 2019
  Brazilian state-owned Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the National Bank for Economic and Social Development has granted a loan of BRL1.76 billion to Chimarrao Transmissora de Energia, a special purpose vehicle (SPE) formed by Cymi Construções e Participações—a member of the Spanish group ACS, and the equity investment fund Brasil Energia—a member of the Canadian group Brookfield, to connect wind projects in the country's south to the grid.