Equis Development, an Asia-Pacific renewables platform, has launched a sale process, according to three sources familiar.

The process was launched in mid-June with the distribution of confidential information memoranda, the sources said.

Non-binding offers are due by 21 July, one of them added.

UBS, which is advising Equis, has not provided bidders with any pricing guidance so far.

Existing investors Abu Dhabi Investment Authority (ADIA) and the Ontario Teachers’ Pension Plan Board (OTPPB) could exit through the process, sources previously said.

Equis is seeking over USD 1bn in additional equity to fund its growth till 2030, according to a marketing document seen by Infralogic.

The platform received a USD 1.25bn investment from ADIA and the OTPPB in 2020. As of 31 December 2024, it had invested around USD 950m of that total, the document shows.

Equis has a 1.8 GW portfolio, of which Australian battery energy storage systems (BESS) accounts for 60% and South Korean offshore wind contributes 30%, according to the document. Around 55% of the portfolio is under construction, 40% is shovel-ready, and 5% is operational.

The first 600 MW of Australian BESS have been fully funded, with USD 300m equity and USD 250m debt, the document shows.

Equis also has an advanced-stage 2.8 GW portfolio, of which Australia accounts for 55% and BESS 45%, per the document. Japan and South Korea contribute 25% and 20%, respectively, while onshore wind and solar account for 30% and 15%, respectively.

Additionally, Equis has an early-stage pipeline of over 3 GW, 50% of which is in batteries, with Japan accounting for 55%, the document shows.

Separately, Equis is trying to sell equity and raise debt to fund its South Korean offshore wind project, Anma Island.

Last month the developer sold its South Korean waste processing assets for about KRW 400bn (USD 294m) to Singapore-based fund manager Affirma Capital.

Established in 2019, Singapore-based Equis was formed through a restructuring of fund manager Equis Group to a development holding company.

Equis and UBS declined to comment.