GIP closes USD-5bn takeover of Equis Energy

Image source: Equis Pte. Ltd (www.equisenergy.com)

January 19 (Renewables Now) - Investors led by Global Infrastructure Partners (GIP) have closed the acquisition of Singapore-based Equis Energy in a USD-5-billion (EUR 4.07bn) deal.

The transaction, which includes the assumption of USD 1.3 billion in liabilities, is “the largest renewable energy generation acquisition in history,” Equis Energy said on Friday. It added that the purchase positions GIP as a dominant renewable energy developer in Australia, Japan, India and South-East Asia.

Global Infrastructure Partners III, Canada's Public Sector Pension Investment Board (PSP Investments) and China’s CIC Capital Corporation agreed to take over Equis Energy in October 2017. The acquisition consideration was paid in cash.

Equis Energy operates as an independent power producer (IPP) in the Asia-Pacific region. The company has more than 11,135 MW of assets in operation, under construction or in development in Australia, Japan, India, Indonesia, the Philippines and Thailand.

(USD 1.0 = EUR 0.814)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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