Petronas breaks E&P mold with entrance into Indian solar market

May 24, 2019

At first glance, Petronas’ multi-million dollar acquisition of the relatively unheard of Amplus Solar in India seems to follow the trend of other E&P majors looking to diversify into renewables.

Upstream Majors to lead the charge in Australian Renewables

The state-owned Malaysian oil and gas company’s move into India sparks intrigue for two reasons. First, prior to the deal, Petronas had absolutely zero footprint in India, so penetration into the Malaysian market – where it has a deep understanding and operational base – would seem to make more sense and carry less risk. Secondly, Amplus Solar is a company more experienced in distributed energy rather than utility-scale assets, a major departure from the normal trend shown by upstream majors but similar to the latest Shell-Cleantech deal.

For more in-depth information please have a look at our Renewable Energy Solution.

###

Contacts

Gero Farruggio
Head of Australia and Global Head of Renewables
Phone: +61 280 678 490
gero.farruggio@rystadenergy.com


Jerome Fuzeau
Product Marketing Manager
Phone: +47 24 00 42 00
jerome.fuzeau@rystadenergy.com

 

About Rystad Energy

Rystad Energy is an independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry. Our products and services cover energy fundamentals and the global and regional upstream, oilfield services and renewable energy industries, tailored to analysts, managers and executives alike. Rystad Energy’s headquarters are located in Oslo, Norway with offices in London, New York, Houston, Stavanger, Moscow, Rio de Janeiro, Singapore, Bangalore, Tokyo, Sydney and Dubai.