Malaysian oil and gas company Petroliam Nasional Bhd (Petronas) is in discussions with New York-based I Squared Capital to acquire a majority stake in Indian rooftop solar power company Amplus Energy Solutions Pvt. Ltd.
The deal could be valued at approximately 2,700 crore rupees ($379.5 million).
Petronas is in talks to acquire a majority stake in Amplus to diversify and invest in India’s emerging green economy.
Norwegian energy company Statoil ASA, French peer Total SA and Royal Dutch Shell Plc also have interest in investing in Amplus.