• 3 days Nuclear Bomb = Nuclear War: Saudi Arabia Will Develop Nuclear Bomb If Iran Does
  • 2 days Statoil Changes Name
  • 3 days Tillerson just sacked ... how will market react?
  • 2 days Russian hackers targeted American energy grid
  • 2 days Is $71 As Good As It Gets For Oil Bulls This Year?
  • 3 days Petrobras Narrows 2017 Loss, Net Debt Falls Below $85bn
  • 3 days Proton battery-alternative for lithium?
  • 3 days Ford Recalls 1.38 Million Vehicles (North America) For Loose Steering Wheel Bolt
  • 2 days Oil Boom Will Help Ghana To Be One Of The Fastest Growing¨Economies By 2018!
  • 2 days Country With Biggest Oil Reserves Biggest Threat to World Economy
  • 3 days I vote for Exxon
  • 2 days HAPPY RIG COUNT DAY!!
  • 3 days UK vs. Russia - Britain Expels 23 Russian Diplomats Over Chemical Attack On Ex-Spy.
  • 3 days Why is gold soooo boring?
  • 3 days South Korea Would Suspend Five Coal - Fire Power Plants.
  • 2 days Spotify to file $1 billion IPO

Asia’s Top Renewables Firm Draws Interest From Shell

wind energy

Equis Energy, the Singapore-based firm that sports the largest renewable energy portfolio in the Asia-Pacific, has attracted none other than Shell as one of its potential suitors, according to sources who spoke to Reuters. The company could be worth up to US$5 billion. First-round bids are to be submitted by the end of this week.

Equis Energy announced plans to restructure its operations earlier this year, with media reports citing sources that it was looking to sell its Indian operations separately. Last week, however, a company spokesperson told PV-Tech that “Equis Energy was never interested in restructuring a portion of its portfolio. In fact it’s a regional portfolio and we are restructuring the entire portfolio, so the India only assets are not on the table. It’s the entire 100% of the renewable assets of Equis Energy Asia-Pacific-wide.”

Equis Energy’s portfolio comprises 4.4 GW of utility-scale solar, wind, and hydropower capacity installed across the Asia-Pacific—Australia, Taiwan, Japan, Thailand, India, the Philippines, and Indonesia—and another 6.7 GW under development. In total, the company’s portfolio includes 97 projects.

The Singapore-based firm has taken on JPMorgan and Credit Swiss as strategic advisors on its restructuring. The company is a tasty morsel: Asian governments—like governments elsewhere—are giving a lot of attention to renewable energy capacity expansion. Among the suitors, Reuters notes traders, buyout firms, and pension funds.

Related: U.S. Sanctions On Russia Could Be "Wide And Indiscriminate"

Shell has recently been vocal about expanding into renewables. Earlier this month, at the World Petroleum Congress in Turkey, CEO Ben van Beurden said Shell will pledge up to US$1 billion annually by 2020 to renewable energy initiatives aimed at supporting the global drive to tackle climate change targets set out in the Paris Agreement.

Among the company’s priorities in this respect, Van Beurden mentioned electric vehicles, fuel cells, LNG, and biofuels, along with, of course, wind and solar.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News