Equis hints at potential sale of 4.7GW portfolio

The Singapore-based renewables firm has hired banks to conduct a ‘strategic review’ of the pool of 102 assets in a bid to garner additional resources for growth.

Equis Energy has appointed Credit Suisse and JP Morgan as financial advisors and global coordinators to help it assess options regarding its 4.7GW renewable energy portfolio.

A spokesperson for the Singapore-based firm told Infrastructure Investor it had decided to undertake a “strategic review” of the pool of 102 assets as it seeks to accelerate the growth of its business and further strengthen its position as a developer and operator of Asian projects. 

“We have grown our portfolio by over 80MW per month on average since our first asset in 2012, and we are keen to expand our ownership base with partners who are excited by the growth we have achieved and target for the future,” said David Russell, a board director of Equis.

The firm’s portfolio comprises wind, solar and hydro assets across Australia, India, Indonesia, Japan, the Philippines, Taiwan and Thailand. Equis has a further 71 assets and 6.3GW under development, which do not fall under the remit of the upcoming strategic assessment.

“The review process encompasses 100 percent of the equity interests in Equis, comprising 102 assets, totalling 4.7 GW of utility-scale solar, wind and hydro generation assets across Australia, India, Indonesia, Japan, the Philippines, Taiwan and Thailand,” the spokesperson said, adding that Equis was only looking to inject fresh equity into its renewables portfolio, not the fund manager itself.

The firm has raised $2.7 billion of capital from investors around the world since its inception in 2011. It invests in the development of renewable energy generation and infrastructure assets in Asia through four pooled private funds and 11 investment platforms. 

Earlier this year, Equis debuted in Australia by backing two large-scale solar projects with a combined 200MW capacity. The firm has also secured land rights which allow for the development of an additional 1GW of large-scale solar over the near team. 

This week, the firm also commissioned a 46MW wind farm in India, bringing its operating renewables portfolio in the country to nine assets totalling 576MW.