Malaysia’s Petronas acquires SG-based solar firm Amplus Energy

FILE PHOTO: A Petronas logo at their office in Kuala Lumpur, Malaysia August 15, 2017. REUTERS/Lai Seng Sin

Malaysian state-owned oil and gas firm Petronas said on Monday it had acquired a Singapore-based solar energy company as part of a strategy to move into renewable energy, chasing high-growth business to complement its mainstay operations.

The solar company, Amplus Energy Solutions Pte Ltd or M+, specialises in rooftop and ground-based solar power projects with a cumulative capacity of over 500 megawatt (MW) under operation and development. It has projects across India, the Middle East and South East Asia, according to a statement from Petronas.

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