Petronas ponders selling minority stake in Gentari - report

Malaysian oil and gas company Petroliam Nasional Bhd, better known as Petronas, is considering selling a minority stake in Gentari, a renewable energy firm which had 2.4 GW of installed capacity in its portfolio as of end-June, Bloomberg reported, citing insiders.

Petronas is said to have tapped an adviser to help it in a potential sale of a shareholding that could be worth between USD 300 million (EUR 276.4m) and USD 500 million, although deliberations are at an early stage and no details or the final outcome are certain.

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The minority stake in the business has attracted interest from infrastructure funds and industry peers. The proceeds from a potential transaction would be used to help Gentari expand its business, according to the news agency’s sources.

Gentari specialises in solar, wind and battery energy storage systems (BESS), with 3.6 GW of installed and under construction capacity. The company is also active in the hydrogen and green mobility market.

(USD 1 = EUR 0.921)