KUALA LUMPUR: US private equity firm KKR plans to invest more than RM2.6 billion in Petroliam Nasional Bhd's (Petronas) renewable energy business in India to fund its expansion and reduce debt, The Economic Times reported.
The proposed investment will be channelled into Gentari Renewable India Pte Ltd, part of Petronas' renewable energy arm, Gentari Sdn Bhd.
According to the report, the investment would not immediately give KKR an ownership stake, although it would have the option to acquire one in the future.
The funding is expected to support Gentari's renewable energy and green hydrogen projects, as well as potential acquisitions of stakes in its existing joint ventures in India.
