Edited by: Sheera Abg Mansor
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is acquiring 100% interest in Amplus Energy Solutions Pte Ltd, also known as M+, after entering into an agreement with I Squared Capital on Monday.
The acquisition, which is expected to be completed later this month, marks Petronas’ strategic intent to grow in the renewable energy space as part of their strategy to step out beyond oil and gas business.
Quoting Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin The Star says, the acquisition also represents their first international solar venture and they look forward in providing energy solutions to the customers in these high growth energy market.
Gautam Bhandari, founding partner at I Squared Capital as also quoted in The Star said M+ grew by over 400% annually to become a world-class, end-to-end company serving the corporate in Asia to reduce their greenhouse gases and combat climate change.
Source: The Star