PETALING JAYA: Petroliam Nasional Bhd (PETRONAS) is considering selling a minority stake in renewable energy (RE) firm Gentari Sdn Bhd to help expand the business, according to people with knowledge of the matter.
PETRONAS is working with an adviser and has drawn interest from infrastructure funds and industry peers, the people said, asking not to be identified as the process is private.
The stake could be worth US$300mil to US$500mil, the people said, though they added that considerations are preliminary and the size of the sale and Gentari’s valuation are still under discussion.
PETRONAS may also decide not to sell, the people said. PETRONAS didn’t respond to requests for comment.
The unit has goals for the year 2030, including having 30 to 40 gigawatts of RE capacity, developing hydrogen projects and supporting electric-vehicle adoption. — Bloomberg
