Shell mulls $5-bln renewables investment

Multinational

SINGAPORE, July 25, 2017 – Super-major Shell is considering purchasing Asia’s biggest independent producer of renewable energy, Equis Energy, for up to USD 5 billion, international media reported on Tuesday.

Other likely bidders include SoftBank and French utility company Engie, anonymous sources told Reuters, though neither of those firms agreed to comment on the matter.

“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, as well as assets which will give upside,” Sharad Somani, Asia-Pacific head of power and utilities at KPMG, told the agency.

Equis has a total of 4.4 GW of power generation capacity across Asia and Australia, and is currently developing additional renewable assets totaling 6.7 GW of capacity.

Initial bids for the company, owned by Equis Funds Group, are due this week, sources told Reuters.

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