A fund managed by Global Infrastructure Partners (GIP) is to acquire the renewable energy portfolio of the Equis Fund Group for $3.7bn.
Operational, construction and shovel-ready solar and onshore wind assets totalling 1.9GW will be acquired by the Global Infrastructure Partners III fund, in conjunction with the Public Sector Pension Investment Board, CIC Capital Corp and a group of co-investors.
In addition, the portfolio includes a long-term development pipeline comprised of over 115 projects representing a further 9.1GW.
Equis Energy is headquartered in Singapore and operates in Japan, Australia, Indonesia, the Philippines, India and Thailand.
The deal is subject to customary regulatory closing conditions, and is expected to close in the first quarter of 2018.
GIP chairman and managing partner Adebayo Ogunlesi said: “We are excited by the new investment in Equis Energy which is a strong fit with GIP’s global renewable investment strategy.”
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