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Equis Energy lures Japanese traders, buyout firms - report

Wind turbine in Japan. Author: Seiichi Ariga. License: Creative Commons, Attribution-ShareAlike 2.0 Generic .

July 25 (Renewables Now) - Singapore-based renewable energy producer Equis Energy has drawn acquisition interest from a number of global groups, including Royal Dutch Shell (AMS:RDSA) and SoftBank (TYO:9984), Reuters reports.

Sources familiar with the matter told the news agency that, in addition to Shell and SoftBank, Japanese traders, global pension funds and certain private equity firms are also considering making bids for Equis Energy. Partnerships between Orix Corp (TYO:8591) and Dutch pension fund APG, as well as I Squared Capital and an unnamed Japanese trader are also likely to bid, Reuters said.

The target is valued at up to USD 5 billion (EUR 4.3bn), according to the report, which also mentions that first-round bids are due this week.

The insiders have noted that some of the suitors are only looking to buy specific assets and for this reason are grouping with other potential bidders, with plans to divide the acquired portfolio.

Last week, business newspaper Mint reported that French energy major Engie (EPA:ENGI) was keen on purchasing Equis assets in India.

Equis Energy’s portfolio includes a total of 97 solar, wind and hydropower plants located in countries such as Japan, India, Philippines and Australia.

(USD 1.0 = EUR 0.858)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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