Royal Dutch Shell is among companies looking to snap up $5bn Asian renewables firm Equis Energy

Courtney Goldsmith
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Equis Energy owns solar, wind and hydro assets across the Asia-Pacific region (Source: Getty)

Royal Dutch Shell is among several companies said to be bidding for Asian renewable energy giant Equis Energy.

Singapore-based Equis is valued at up to $5bn (£3.8bn), and it is Asia's largest independent renewable energy producer with a portfolio of 97 solar, wind and hydro generation projects across Japan, India, the Philippines and Australia.

Shell and Japan's SoftBank as well as Japanese trading firms, global pension funds and buyout firms are included in the mix of companies vying to take over the firm, sources have told Reuters.

The first round of bids for the renewables firm, which is owned by Equis Funds Group, are said to be due this week.

"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, KPMG's Asia-Pacific head of power and utilities said, according to Reuters.

Equis' portfolio includes 4.4 gigawatts (GW) of operating projects and an additional 6.7GW under development.

Bidders are apparently interested in only paying for the actual assets that Equis has currently, but Equis is looking to put a full value on its projects with an asking price of between $4bn and $5bn.

Shell declined to comment, and Equis did not immediately respond to a request for comment.

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