GIP Weighs Sale in $15B Renewable Energy Firm

Global Infrastructure Partners is reportedly considering selling a stake in its Singapore-based portfolio company Vena Energy for approximately $15 billion, according to Bloomberg News.

Vena Energy develops and owns renewable energy projects in Asia-Pacific, including wind, solar, and energy storage. The infrastructure fund has contacted a group of financial consultants about selling up to a 51% interest in the company.

The asset could reportedly attract companies in the industry and conglomerates with an interest in boosting their green investments.

The discussions are in their early stages, and GIP may ultimately decide against a transaction, according to the report.

GIP, based in New York, and co-investors China Investment Corp. and Public Sector Pension Investment Board agreed to buy Equis Pte in 2017 for $3.7 billion. In 2018, Equis was rebranded as Vena Energy.

GIP oversees more than $100 billion in assets, including investments in energy, transportation, digital, water, and waste.

Vena Energy is a fully integrated renewable energy developer, owner, and operator with more than 2.9 gigawatts of renewable energy under operation and an additional 706 megawatts under construction in Australia, India, Japan and Taiwan as of the end of June.