Malaysia’s Petronas is reportedly looking to acquire 100 MW solar power assets located in Karnataka from ACME Solar.
Petronas will likely conduct the deal worth Rs 450-500 crore through its Indian arm Amplus Energy Solutions, The Economic Times reported. The Malaysian state-run Oil and Gas Company bought Amplus from I Squared Capital in 2019.
Moneycontrol could not independently verify the report.
Acme Solar is one of the largest solar power developers in India with a portfolio of 5.5 GW and an operational capacity of 2.9 GW and 2.6 GW of projects under various stages of development.
ACME had, in February, sold 600 MW of assets to private equity firm Actis for Rs 3,000 crore.