EQUIS Appoints Credit Suisse & J.P. Morgan as Financial Advisors
Equis Energy, Asia’s largest independent renewable energy independent power producer (“LPP”), has appointed Credit Suisse and J.P. Morgan as financial advisors and global. Focusing on its energy portfolio, which Equis has the largest in Asia-Pacific based on installed capacity across the region, both firms will be collaborating in conducting a strategic review of their assets and progression. The decision to conduct a review of their energy assets came after a period of growth.
Though a relatively young company, they quickly grew their renewable energy portfolio across a number of Asia-Pacific countries. Since Equis’ inception in 2010, the renewable energy providers have amassed 102 assets, producing 4.7GW through utility-scale solar, wind and hydro generation assets. These assets are based across Australia, India, Indonesia, Japan, the Philippines, Taiwan and Thailand along with a team of over 450 renewable energy professionals, including over 180 engineers.
This is not including the further 71 assets currently under development and, on completion, would increase their output by 6.3GW.
“We are pleased to be working with Credit Suisse and J.P. Morgan on implementing this important next phase in our evolution,” David Russell, Equis Board Director, said about the decision to work with the two leading financial institutions.
“We have grown our portfolio by over 80 MW per month on average since acquiring our first asset in 2012, and we are keen to expand our ownership base with partners who are excited by the growth we have achieved and target for the future.”
Equis uses a very hands-on approach to developing their renewable assets and utilities. They employ large management teams working locally to build and develop their assets. These local management teams will assume the responsibility to origination, land, early stage development, grid, assessment, construction management and operations functions of these assets. It has allowed Equis to retain control of the development and construction process. It is a strategic approach which provides the company greater assurance when completing projects and troubleshoot potential problems.
“Relying on our local management teams and maintaining control of decision-making throughout the entire asset lifecycle has resulted in a 100% completion track record of assets that commence construction, and we have successfully transitioned 100% of Shovel Ready and 75% of Advanced assets to construction,” Russell noted on this tried and tested approach.
“We have no competitors with a similar track record in Asia-Pacific, the largest and fastest growing renewable energy region globally.”
It is an approach that has served Equis well. In the last three years, the energy provider completed 33 renewable energy projects across Asia and continually grew their energy portfolio. Currently, the energy provider is developing two 100-megawatt solar power plants in Australia. The AUS $400 million ($303 million) project will help the Australian government meet their renewable energy goals. The investment will contribute to the country’s target for 20% of the country’s power to be generated through renewable energy solutions.
Following this continual period of growth and development for the young renewable energy provider, a strategic review will be held. Credit Suisse and J.P. Morgan will be assessing the company’s portfolio and progress, and they’re on track for their long term objectives.