Petronas

Malaysian energy giant Petroliam Nasional (Petronas) and Singapore's sovereign wealth fund GIC will invest in a project to produce five million tonnes of green ammonia a year in India by 2030. Gentari, the renewable energy arm of Petronas, and an affiliate of GIC will invest in the project being developed by AM Green, which has been set up by the founders of clean energy company Greenko Group, the companies said in a statement. "Gentari Sdn Bhd (Gentari), via its wholly-owned subsidiary Gentari International Renewables Pte Ltd, has entered into an agreement with AM Green BV (AM Green) to jointly invest, in phases, into a green ammonia platform, AM Green Ammonia Holdings BV (AMG Ammonia)," it said. AMG Ammonia is established by the founders of Greenko. An affiliate of Singapore investment entity, GIC, is also an investor in AMG Ammonia. "AMG Ammonia is projected to produce 5 million tonnes per annum of green ammonia using round-the-clock renewable energy by 2030. The platform aims t

The deal was the first time an Indian state-run company has offered a stake in a renewable energy arm and comes as the country's renewables sector is attracting increasing foreign investment

The state-owned company has said it would allocate 20% of its overall capital expenditure for decarbonisation projects and cleaner energy solutions from 2023 to 2026

The Canada Pension Plan Investment Board (CPPIB), Malaysian state-run Petronas and Arcelormittal SA are among the 13 bidders for a minority stake in the green energy unit of India's NTPC Ltd

The tie up will target the domestic market for now

Deal value not revealed; The 17 acquired projects supply 13 leading industrial, commercial, and institutional customers

Billion-dollar deals aplenty for right business

Abu Dhabi's state investor Mubadala Investment Co has also been approached by Aramco's advisers

Last week, Petronas and a consortium led by Japan's JXTG Holdings Inc were among companies interested in buying a stake in Bina oil refinery

The Bina plant in central India, capable of processing 156,000 barrels per day (bpd) of crude oil, is operated by Bharat Oman Refineries Ltd

The agreement marks a turnaround by Petronas after it abandoned its own $27 billion LNG proposal

SEOUL (Reuters) - Oil firms Petronas and Aramco are among potential suitors for a controlling stake in Daewoo Engineering & Construction Co, a deal that could fetch around 2 trillion won ($1.78 billion), South Korea's Maeil Business Newspaper said on Friday.

With over 30 mn tonnes/annum supply capacity, Petronas is the third largest LNG player globally

The refinery will be set up by Petronas