Equis Energy, Asia's largest independent renewable energy company, said it agreed to be sold to Global Infrastructure Partners (GIP) and other investors including sovereign wealth fund China Investment Corp for $3.7 billion.
The buyers are also taking on assumed liabilities of $1.3 billion.
"The transaction is the largest renewable energy generation acquisition in history and positions GIP as a dominant renewable energy developer in the key growth markets of Australia and Japan, as well as across India and Southeast Asia," Equis and GIP said in a statement.
Reuters reported in July that Japanese trading companies, global pension funds, several companies and buyout firms were competing to buy Equis, at a time when many Asian governments are expanding the use of renewable power and its costs are falling.
Singapore-based Equis is the largest renewable energy independent power producer in the Asia-Pacific region.
