PROJECT | Staff Reporter, Malaysia

Petronas buys 500MW portfolio of international PV projects

The acquisition is the firm’s first foray into renewables.

Petroliam Nasional Berhad (Petronas) has entered into an agreement with global infrastructure investor I Squared Capital to acquire a 100% interest in Singapore-based firm Ampus Energy Solutions (M+) which owns a 500MW portfolio of PV projects, an announcement revealed.

The acquisition, which is expected to be completed later in April, marks Petronas’ international foray into renewable energy.

According to the announcement, M+ serves more than 150 commercial and industrial customers across India, the Middle East and Southeast Asia.

Petronas is also looking to work in a number of clean energy initiatives in Malaysia. It has announced a collaboration with Universiti Teknologi Mara’s investment arm UiTM Holdings Sdn Bhd to jointly develop large scale PV power plants and on-campus energy optimisation and solar rooftop projects. 

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