Deal Watch: Europe

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

• German government considers stake acquisition in TransnetBW

  June 7, 2022
  The German government is considering acquiring a minority stake in Germany’s transmission system operator (TSO) TransnetBW, owned by Germany-based power generation company—Energie Baden-Wurttemberg AG (EnBW). Earlier in February 2022, EnBW had reported that it was mulling over selling up to 49.9 per cent in TransnetBW to attain funds for its expansion plans amid the growing demand for sustainable solutions.

• EIB to finance GREGY Green Energy Interconnector

  June 2, 2022
  European Investment Bank (EIB), along with some Greek banks, is expected to finance the USD3.73 billion GREGY Green Energy Interconnector, a Greek-Egyptian grid interconnection developed by Elica SA, part of Greece’s Copelouzos Group.

• EBRD loans EUR20 million for upgrade of Bosnia’s transmission grid

  April 13, 2022
  The European Bank for Reconstruction and Development (EBRD) has granted a EUR20 million loan to Bosnia and Herzegovina’s transmission system operator (TSO) Elektroprenos BiH, for modernisation of its core telecommunication systems, in order to improve the efficiency and management of the TSO’s electricity substations and distribution systems.

• Danish Energinet secures EUR202 million loan from NIB for Viking Link

  March 8, 2022
  Danish power transmission system operator (TSO) Energinet has secured a 10-year, EUR202 million loan from the Nordic Investment Bank (NIB) to finance the construction of Viking Link, a proposed 1.4 GW, 740-km high voltage direct current (HVDC) electricity interconnection between Revsing in South Jutland, Denmark and Bicker Fen in Lincolnshire, UK.

• Ukraine’s Ukrenergo signs grant agreement with Germany’s KfW

  February 1, 2022
  Ukraine’s transmission system operator (TSO) National Power Company Ukrenergo (NPC Ukrenergo or Ukrenergo), has signed a grant agreement worth EUR1.7 million with KfW Entwicklungsbank (KfW Development Bank) for renovation and automation of the 330 kV Podilska substation situated in the Odesa region under the ‘Increasing the Efficiency of Electricity Transmission III (Integration of Ukraine’s Energy System into the European Energy System) project.

• EU grants EUR1 billion for cross-border energy infrastructure projects

  January 26, 2022
  The European Union (EU) has granted EUR1 billion under its Connecting Europe Facility (CEF) for multiple cross-border energy infrastructure projects, which include the 400 kV Sweden-Finland Aurora interconnector, the EuroAsia Interconnector, and the Baltic States’ synchronisation project.

• Israel’s Econergy Renewable Energy acquires 50 MW energy storage project in UK

  January 13, 2022
  Israel-based independent power producer (IPP), Econergy Renewable Energy, has acquired the 50 MW Swangate energy storage project from the UK’s renewables developer Yoo Energy. UK-based Renew Legal acted as legal advisors on behalf of Econergy for the acquisition.

• EIB grants CZK3.6 billion loan to Czech Republic CEPS for network strengthening

  December 21, 2021
  The European Investment Bank (EIB) has signed a CZK3.6 billion loan agreement with CEPS AS, the Czech Republic's transmission system operator (TSO), to bolster the electricity transmission infrastructure in the country during 2021-25.

• UK’s Rampion Offshore Wind sells transmission assets to TCP

  November 23, 2021
  Rampion Offshore Wind Limited, the developer of 400 MW offshore wind in the UK, has sold its high voltage transmission assets to Transmission Capital Partners (TCP)—a consortium of Transmission Capital Partners Limited Partnership (TCP LP) and International Public Partnerships Limited (INPP).

• NIB provides EUR70 million investment loan to Finland’s Fingrid

  November 17, 2021
  The Nordic Investment Bank (NIB) has provided a 15-year investment loan amounting to EUR70 million to Finland’s transmission system operator (TSO), Fingrid.

• Ukraine’s Ukrhydroenergo receives World Bank funding for hybrid systems

  November 10, 2021
  Private joint stock company Ukrhydroenergo, managing the major part of hydro generation facilities in Ukraine, has received financing from the World Bank for the installation of hybrid systems for electricity production.

• North Macedonian competition authority approves acquisition of Croatian Dalekovod

  October 26, 2021
  The Competition Authority of North Macedonia has given its approval to the joint acquisition of Croatian power transmission equipment manufacturer Dalekovod by NaprednaEnergetskaRjesenja, a joint venture (JV) company of Croatian electrical equipment manufacturer KoncarElektroindustrija and Construction Line Limited.

• RES sells 50 MW Roaring Hill energy storage project to TagEnergy

  October 12, 2021
  The UK-headquartered multinational clean energy company Renewable Energy Systems (RES) has sold its 50 MW Roaring Hill battery system located in Scotland, to clean energy enterprise TagEnergy.

• Dutch-German TSO TenneT signs EUR250 million loan agreement with EIB

  September 16, 2021
  Dutch-German transmission system operator (TSO) TenneT has signed a EUR250 million loan agreement with the European Investment Bank (EIB) for building a 40-km power transmission corridor in the province of Groningen, in northern Netherlands.

• 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.

• Serbia's EMS to get EUR12.8 million EU grant for 400 kV line

  May 9, 2021
  Serbian power system operator Elektromreza Srbije (EMS) has signed an agreement with the energy ministry to receive a EUR12.8 million European Union (EU) grant for the construction of the 400 kV Obrenovac¬¬–Bajina Basta power transmission line.

• Denmark’s TSO Energinet announces merger of twin subsidiaries

  May 7, 2021
  Denmark’s state-owned transmission system operator (TSO) Energinet has announced that it would merge its twin subsidiaries to form a single gas and power system operator, the Electricity System Operator and Gas TSO.