Petronas makes international foray into renewable energy with M+ | Malay Mail

Tan Sri Wan Zulkiflee Wan Ariffin speaks during the official launch of Yayasan Petronas in Kuala Lumpur March 1, 2019. ― Picture by Yusof Mat Isa

The national oil and gas company today announced that it had entered into an agreement with I Squared Capital, a leading global infrastructure investor, to acquire 100 per cent interest in M+. President and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said the acquisition reflected Petronas’ strategic intent to grow in the renewable energy space as part of a strategy to step out beyond O&G into the new energy business.

Commenting on the transaction, founding partner of I Squared Capital Gautam Bhandari said M+ had grown by over 400 per cent annually to become a world-class, end-to-end company serving the corporates in Asia to reduce their greenhouse gases and combat climate change.

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