Global Infrastructure Partners (GIP), a private equity fund, together with other co-investors, including CIC Capital Corp. offered € 4.3 Bn ($5 Bn) to acquire Equis Energy, the largest renewable energy developers in the Asia-Pacific region. Singapore-based, Equis is currently developing one of the largest solar plants in Australia.
GIB also owns coal, natural gas and oil assets worldwide, but is increasingly interested in renewables, most recently acquiring 50% stake in 330 MW offshore wind farm in the North Sea. The fund, which manages a $40 Bn portfolio, sees a strong fit of Equis Energy with its global renewable-investment strategy.
The deal assumes €1.1 Bn ($1.3 Bn) of debt and will be paid in cash entirely.
