Origin Energy Limited (ASX:ORG) has exited from the competition to buy CWP Renewables Pty Ltd., leaving Iberdrola, S.A. (BME:IBE) and Tilt Renewables Limited to battle for the business. CWP Renewables is owned by Partners Group Holding AG (SWX:PGHN). Final bids were due last monday, but Origin, which was bidding with Caisse de dépôt et pl (CDPQ), was late in lobbing its offer as of last week.

It is now understood that the energy company will not make the deadline for the contest. DataRoom understands that Partners Group will hold an internal approval meeting on Tuesday or Wednesday to select a winning candidate in the competition. This is before either signing up a party towards the end of the week for a deal or providing them with so-called "black box" information and offering exclusive due diligence.