KKR plans some RM2.6 billion investment in PETRONAS’ India renewables unit
The proposed funding will not give KKR equity in Gentari Renewable India, but will provide an option to buy a stake later, The Economic Times reported.
American private equity firm KKR plans to inject some RM2.6 billion into Gentari Renewable India Pte Ltd, PETRONAS’ renewable energy subsidiary in India, according to The Economic Times.
Citing unnamed people with knowledge of the matter, the newspaper said KKR will receive an option to purchase a stake subsequently rather than equity through the capital injection. Gentari Renewable India has been seeking growth funding to expand renewable energy and green hydrogen projects, as well as reduce debt, it reported.
The unit’s earlier purchases include a solar and wind portfolio with capacity of 1.6-gigawatt, acquired from Brookfield Asset Management in March 2025 for US$900 million (RM3.67 billion). It also purchased an operating solar portfolio of 185-megawatt from Fortum Corporation and partners in May 2024.
PETRONAS, formally Petroliam Nasional Bhd, also operates in India across petrochemicals, petroleum trading, automotive lubricants and liquefied natural gas supplies. Its interests include a liquefied petroleum gas joint venture with Indian Oil Corporation, structured on a 50:50 basis.
