KKR to Invest in Petronas’ Gentari Renewable India
KKR plans to invest over INR 6,000 crore in Petronas’ Gentari Renewable India to fund clean energy expansion and reduce debt.
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Global investment firm KKR is set to invest more than INR 6,000 crore in Gentari Renewable India Pte Ltd, the Indian renewable energy arm of Malaysia-based Petronas, according to The Economic Times.
The investment will provide growth capital to expand the company’s renewable energy and green hydrogen projects and reduce debt. It will not give KKR a direct equity stake in Gentari at this stage but will provide an option to acquire a stake in the future, people familiar with the matter told the publication.
KKR’s investment vehicle, Sapphire US Holdco LLC, has sought approval from the Competition Commission of India (CCI) for the investment, according to regulatory filings cited by the report.
The proposed KKR funding will also support the acquisition of stakes in Gentari’s existing renewable energy joint ventures in India.
Global investment firm KKR is set to invest more than INR 6,000 crore in Gentari Renewable India Pte Ltd, the Indian renewable energy arm of Malaysia-based Petronas, according to The Economic Times.
The investment will provide growth capital to expand the company’s renewable energy and green hydrogen projects and reduce debt. It will not give KKR a direct equity stake in Gentari at this stage but will provide an option to acquire a stake in the future, people familiar with the matter told the publication.
KKR’s investment vehicle, Sapphire US Holdco LLC, has sought approval from the Competition Commission of India (CCI) for the investment, according to regulatory filings cited by the report.
The proposed KKR funding will also support the acquisition of stakes in Gentari’s existing renewable energy joint ventures in India.
