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UPDATE 1-Global Infrastructure Partners, China sovereign fund buy Equis Energy for $3.7 bln

Energy for $3.7 bln@

* Buyers also taking on assumed liabilities of $1.3 bln

* Said to be biggest renewable energy generation deal ever (Adds details from statement)

SINGAPORE, Oct 25 (Reuters) - Equis Energy, Asia's largest independent renewable energy firm, said it had agreed to be sold to Global Infrastructure Partners (GIP) and other investors including sovereign wealth fund China Investment Corp for $3.7 billion.

The buyers are also taking on assumed liabilities of $1.3 billion.

"The transaction is the largest renewable energy generation acquisition in history and positions GIP as a dominant renewable energy developer in the key OECD growth markets of Australia and Japan, as well as across India and South-East Asia," Equis Pte Ltd and GIP said in a statement.

Reuters reported in July that Japanese trading companies, global pension funds, several companies and buyout firms were competing to buy Equis, at a time when many Asian governments are expanding the use of renewable power and its costs are falling.

Headquartered in Singapore, Equis Energy is the largest renewable energy independent power producer in AsiaPacific, with over 180 assets across Australia, Japan, India, Indonesia, the Philippines and Thailand.

Equis and GIP said they signed a binding deal for the sale of 100 percent of Equis Energy to GIP and co-investors. The transaction is expected to close in the first quarter of 2018. (Reporting by Anshuman Daga; Editing by Edwina Gibbs)