Category: Europe Deal Watch

The European Commission (EC) has awarded EUR3 million to GE Renewable Energy’s Grid Solutions…

The European Bank for Reconstruction and Development (EBRD) has directed a EUR97.15 million loan to support the sustainability of Ukraine’s transmission system operator (TSO) NPC Ukrenergo.

The Board of Directors of FGC UES has recommended that shareholders vote at an extraordinary meeting to approve a supplementary share issue …

Britain’s transmission system operator (TSO) National Grid has collaborated with UK Power Networks (UKPN) to power thousands of new homes and enable business growth and new jobs in Bedfordshire. To this end, the entities have commenced works on National Grid’s 400 kV substation and UKPN’s new grid substation in Biggleswade.

The NeuConnect interconnector, the first link between UK and Germany, has achieved financial closure with a consortium of more than 20 national and international banks and financial institutions.

Russia’s state-owned power grid company Rosseti would be reorganised in the form of a merger into its subsidiary Rosseti FGC UES.

Japanese Hitachi Energy and UK-based oil and gas industry services provider, Petrofac Limited, have partnered to provide grid connectivity and related infrastructure to support the growing offshore wind business.

The three Baltic electricity transmission system operators (TSOs) of Lithuania (Litgrid), Latvia (AugstspriegumaTīkls AS or AST), and Estonia (Elering), along with Poland’s TSOPolskieSieciElektroenergetyczne (PSE), have signed a EUR170 million grant agreement with Europe’s Climate, Infrastructure and Environment Agency (CINEA) under the European Union (EU) funding for Phase II, Part II of the Baltic synchronisation project.

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.

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.

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 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 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.

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-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.

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.

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).