KUALA LUMPUR: US private equity firm KKR plans to invest more than RM2.6 billion in Petroliam Nasional Bhd's (Petronas) renewable energy business in India to fund its expansion and reduce debt, The Economic Times reported.
The proposed investment will be channelled into Gentari Renewable India Pte Ltd, part of Petronas' renewable energy arm, Gentari Sdn Bhd.
According to the report, the investment would not immediately give KKR an ownership stake, although it would have the option to acquire one in the future.
The funding is expected to support Gentari's renewable energy and green hydrogen projects, as well as potential acquisitions of stakes in its existing joint ventures in India.
In March 2025, Gentari Renewable India acquired a 1.6-gigawatt solar and wind portfolio from Brookfield Asset Management for US$900 million.
It also acquired a 185-megawatt operating solar portfolio from Fortum Corporation and its partners in May 2024.
Gentari has partnered with ReNew to develop solar, wind and hybrid power projects, and with AM Green to produce hydrogen and ammonia.
The proposed investment would further expand KKR's presence in India's renewable energy sector.
The private equity firm already has investments in Hero Future Energies and Serentica Renewables, as well as exposure to power transmission and renewable energy assets through IndiGrid.
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