Asia’s largest independent renewable energy producer set for $5 billion bidding war

Asia’s largest independent renewable energy producer set for $5 billion bidding war

Royal Dutch Shell (LSE:RDSA) and SoftBank are among several global firms interested in purchasing Equis Energy, Asia’s largest independent producer of renewable energy, which has been valued at up to US$5 billion.

First-round bids for the Singapore-based firm are due this week, with various Japanese trading companies, global pension funds and buyout firms set to rival Shell and SoftBank for ownership of the company.

Equis is owned by Equis Funds Group which has raised $2.7 billion in the last five years from global investors to fund infrastructural developments in the renewables industry.

This capital-raising programme has allowed Equis to build a portfolio of 97 solar, wind and hydropower projects across Japan, India, Philippines and Australia, which equates to 4.4GW of renewable energy.

Bidders are looking to form consortiums in order to divide the portfolio up amongst interested parties.

Sharad Somani, KPMG’s Asia-Pacific head of power and utilities said: “What this offers is a great platform for somebody who wants to have a pan-Asia view of the renewable energy sector and a good story because it has got revenue generating assets.”

@RGNonline