Petronas jumps into PV market with Amplus acquisition

The Malaysian oil and gas group has purchased solar developer Amplus Energy Solutions from infrastructure investor I Squared Capital. No financial terms of the deal have been disclosed.The acquisition of Singapore-based solar developer Amplus Energy Solutions - which owns a 500 MW portfolio of PV projects - marks a first foray by Petroliam Nasional Berhad (Petronas) into renewables. The Kuala Lumpur-based group expects to finalize the deal this month, it said in an online statement. "This acquisition reflects Petronas' strategic intent to grow in the renewable energy space as part of our strategy ...

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