SOLAR STRATEGY: Petronas Acquires Amplus Energy

Posted on 04/15/2019

Petroliam Nasional Berhad (Petronas), the Malaysian state-owned oil and gas company, acquired Singapore-based Amplus Energy Solutions Pte Ltd (also known as M+), a solar energy distributed energy company. Amplus Energy will become a wholly-owned unit of Petronas after the deal is complete.

The price tag for the company is estimated at US$ 390 million.

I Squared Capital was an initial investor in Amplus Energy.