KKR to Invest over 6kcr in Petronas India RE Arm
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓KKR is set to invest over ₹6,000 crore in the Indian renewable energy unit of Petronas.
- ✓The funding will help Gentari Renewable India Pte Ltd expand its green projects and lower debt.
- ✓"The plan is to grow with the funding from KKR by building on the existing portfolio of projects."
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
KKR is set to invest more than ₹6,000 crore in the Indian renewable energy (RE) unit of Petronas, according to people familiar with the matter.
The Malaysia oil giant's unit, Gentari Renewable India Pte Ltd, has been looking to raise growth capital to fund expansion of its renewable and green hydrogen projects besides lowering debt. The funding will not result directly in the acquisition of a holding in the unit, said the people cited.
But the investment will give KKR the option of owning a stake in the future, they added.
KKR vehicle Sapphire US Holdco LLC has sought approval by the Competition Commission of India (CCI) for an investment in Singapore-based Gentari Renewable India Pte Ltd, according to filings seen by ET.
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Economic Times
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