Global Infrastructure Partners (GIP) has agreed the $5bn purchase of Asian independent power producer (IPP) Equis Energy, in the world’s largest renewable energy deal to date.

Singapore-based Equis boasts an 11.1GW portfolio of operating and development assets across the Asia-Pacific region, spanning key markets such as India, Japan, Thailand, Indonesia and Australia.

GIP – which has major infrastructure interests across the world – said the deal will position it as “a dominant renewable energy player” in the region.