Deals this week: China Three Gorges Corporation, I Squared Capital Advisors, TenneT Holding


China Three Gorges (CTG) is to acquire Duke Energy’s power business segment in Brazil for approximately $1.2bn.

CTG will take ownership of power facilities generating a total output of 2.09GW, while enabling Duke Energy to reduce its debt.

The transaction is expected to close within two to four months.

In addition, Duke Energy’s international power business will be acquired by I Squared Capital Advisors, in exchange for approximately $1.2bn.

"Duke Energy’s international power business will be acquired by I Squared Capital Advisors."

I Squared Capital will be provided with 2.3GW of hydro and thermal generation capacity, 730km of 220kV transmission lines, and natural gas processing facilities.

The transaction is expected to close in the first half of 2017.

TenneT Holding has priced the public offering of its 1.25% green bond due 2033, in order to raise €500m ($559.88m).

Proceeds from the offering will be used to fund the company’s offshore wind farms and onshore electricity grid transmission projects.

Lloyds Bank, Rabobank Group and Royal Bank of Scotland are the financial advisors for the offering.

Lockheed Martin has formed a partnership with CoGen (CoGen UK) to develop energy-from-waste projects in the UK.

The first facility to be developed by the partnership is set to be located in Cardiff, Wales. It will process approximately 150,000t of waste and generate 15MW of energy a year.

Construction of the Cardiff waste-from-energy plant is scheduled to start in 2018 and be completed by 2020.