Malaysia’s Petronas enters into agreement with I Squared Capital

The Malaysian state-owned utility Petroliam Nasional Berhad (Petronas) has entered into an agreement with global infrastructure investor I Squared Capital to acquire 100 per cent stake in Singapore-based firm Amplus Energy Solutions, which owns a 500 MW solar PV portfolio. The acquisition will mark Petronas’s international foray into renewable energy. In a separate development, Petronas and Universiti Teknologi Mara’s investment arm UiTM Holdings Sdn Bhd have agreed to jointly develop large-scale solar PV plants, and on-campus energy optimisation and solar rooftop projects.

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