25 Oct Equis Energy acquired by investment fund in record $5 billion deal
US-based investment fund Global Infrastructure Partners (GIP) has purchased Equis Energy for US$5 billion including debt, the largest ever recorded fee for a company in the renewable energy industry.
Equis is headquartered in Singapore and possesses over 180 wind, solar and hydroelectric assets in the Asia Pacific (APAC) region with a combined capacity of 11,135MW in operation, construction and development.
The deal includes $1.3 billion worth of liabilities and is expected to close in the first quarter of 2018 subject to regulatory approvals, said both companies in a joint statement.
“Equis Energy is a unique success story in the APAC region as it has systematically executed its growth strategy since its founding five years ago,” said Adebayo Ogunlesi, chairman and managing partner of GIP.
“In that period, Equis Energy has become one of the leading renewable energy platforms in the region, with a best-in-class business model, a high-quality asset portfolio and an outstanding management team.
“We look forward to continuing the Equis Energy success story in the years to come and to supporting new growth opportunities in one of the most promising renewable energy markets in the world.”