Petronas Forays into Renewable Energy with Acquisition of Amplus Energy


Petronas Forays into Renewable Energy with Acquisition of Amplus Energy

Petroliam Nasional Berhad (Petronas), Malaysia’s fully integrated oil and gas major, has entered into an agreement with I Squared Capital, a leading global infrastructure investor, to acquire 100% interest in Amplus (M+) Energy Solutions Pte Ltd, a leading Singapore-based company with a portfolio of distributed, renewable energy assets in Asia.

The deal is expected to be completed by the end of the month, and it marks the Oil and Gas majors international foray into renewable energy. Petronas President and CEO Tan Sri Wan Zulkiflee Wan Ariffin said, “This acquisition reflects PETRONAS’ strategic intent to grow in the renewable energy space as part of our strategy to step out beyond oil and gas into the new energy business.

This also represents our first international solar venture and we look forward to providing energy solutions to our customers in these high growth energy markets.”  Read More

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