KUALA LUMPUR — US private equity firm KKR plans to invest more than RM2.6 billion in Petroliam Nasional Bhd’s (Petronas) renewable energy business in India to support expansion and reduce debt, according to The Economic Times.
The proposed investment will be channelled into Gentari Renewable India Pte Ltd, which operates under Petronas’ clean energy arm, Gentari Sdn Bhd.
The report said the investment would not immediately give KKR an ownership stake in the business, although the firm would have the option to acquire one in the future.
The funding is expected to support Gentari’s renewable energy and green hydrogen projects, as well as potential acquisitions of stakes in its existing joint ventures in India.
In March 2025, Gentari Renewable India acquired a 1.6-gigawatt solar and wind portfolio from Brookfield Asset Management for US$900 million.
In May 2024, it also acquired an operational solar portfolio with a capacity of 185 megawatts from Fortum Corporation and its partners.
Gentari has partnered with ReNew to develop solar, wind and hybrid power projects, while its collaboration with AM Green focuses on producing hydrogen and ammonia.
The proposed investment would further strengthen KKR’s presence in India’s renewable energy sector. The private equity firm already has investments in Hero Future Energies and Serentica Renewables, as well as exposure to power transmission and renewable energy assets through IndiGrid.
-NST
