Hong Kong — Equis Energy, the Singapore-based developer of power projects, had asked for binding bids for its $4bn renewable energy business by late September, people with knowledge of the matter said. A consortium led by 1 Squared Capital is among suitors chosen to proceed in the bidding for the portfolio of Asia Pacific assets, according to the people. The infrastructure investment company is partnering with Thailand utility Electricity Generating and Japanese trading house Mitsubishi, the people said, asking not to be identified because the information was private. Orix, which has teamed with Dutch asset manager APG Group and Royal Dutch Shell, was also invited to make second-round offers, the people said. China’s State Power Investment and French utility Engie, which were earlier considering bids, are no longer pursuing the assets, according to the people. Renewable energy assets are attracting heightened investor interest as governments throughout Asia are encouraging the use o...
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