Malaysia’s Petronas acquires Amplus Energy Solutions

May 2019

Petronas, a Malaysian state-owned oil and gas company, has entered into an agreement with I Squared Capital, a leading global Infrastructure investor, to acquire 100% interest in Amplus Energy Solutions Pte Ltd, also known as M+, a Singapore-based company with a portfolio of distributed, renewable Energy assets in Asia.

M+ offers solutions to commercial and industrial clients, specializing in rooftop and ground-mounted solar power projects. Established in 2013, M+ now caters to over 150 customers at over 200 locations across the Middle East, India and South-East Asia and has a cumulative capacity of over 500 megawatts under operation and development.

The acquisition marks Petronas’ strategic intent to diversify beyond oil and gas and grow in the renewable Energy sector. This move is the company’s first international solar venture. Petronas did not publish the financial terms of the deal.

Petronas is also working with a number of Malaysian clean Energy initiatives. Recently, Petronas announced its collaboration with UiTM Holdings Sdn Bhd, the investment arm of Universiti Teknologi Mara, to jointly develop large scale solar photovoltaic power plants and on-campus Energy optimization and solar rooftop projects.

(Sources:; The Star; The New Paper)

About Us

Orissa International helps companies that want to develop a market entry strategy for Southeast Asia or implement their business expansion into the region. We have very strong domain knowledge of markets and industry sectors, and a business network of over 16,000 companies that includes distributors, resellers, system integrators and local manufacturers, that we have built through advising and guiding more than 5,000 companies with their market expansion into the ASEAN region over the last 25 years.

Orissa International is headquartered in Singapore, with additional offices in Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.

Our Services