Clifford Chance and Skadden, Arps, Slate, Meagher & Flom scored lead roles on the largest-ever renewable energy acquisition—a deal in which the U.S. investment fund Global Infrastructure Partners (GIP) is buying Singapore-based Equis Energy for $5 billion.

New York-based GIP will pay $3.7 billion for 100 percent of Equis Energy and take on $1.3 billion worth of assumed liabilities. The transaction is the biggest-ever acquisition in the history of the renewables industry, according to data compiled by Bloomberg LP.

Equis Energy is the largest independent renewable energy power producer in the Asia Pacific, with over 11,135 megawatts in operation across Australia, Japan, India, Indonesia, the Philippines and Thailand.

Clifford Chance’s London-based head of infrastructure M&A, Brendan Moylan, is leading a team representing GIP. Since August, a Germany-based team at Clifford Chance has also been acting for GIP on a $1.38 billion investment in a wind farm project in the country.

Skadden Hong Kong partner Jonathan Stone and Singapore partner Rajeev Duggal are advising Equis Pte. Ltd., vendor of the deal. Equis chief executive David Russell was an infrastructure lawyer for a short time at Skadden’s Washington, D.C., office.

The deal, expected to close in the first quarter of 2018, will position GIP as a dominant renewable energy developer in the key growth markets of Australia and Japan, as well as across India and Southeast Asia, the company said in a statement.

GIP raised a record $15.8 billion for its infrastructure fund in January as President Donald Trump promised to invest in America’s bridges and roads.