Latest news with #Gentari
Time of India
19 hours ago
- Business
- Time of India
Gentari seeks buyer for up to 50% stake in India arm
Gentari, the renewable energy arm of Malaysian national oil & gas company Petronas, is seeking to sell up to a 50% stake in its India unit in what could potentially become one of the largest green energy deals in the country, said people with direct knowledge of the matter. Gentari has appointed Standard Chartered Bank as its transaction advisor. Gentari India has a substantial portfolio comprising 4 GW of operational assets, 4 GW under construction, and an additional 4 GW in the pipeline, according to information shared by the transaction advisor with potential investors. For context, last December, JSW Energy agreed to acquire O2 Power's 4.7 GW portfolio, including 1.5 GW under construction and 1 GW of pipeline projects, at an enterprise value of $1.5 billion. Standard Chartered Bank has approached multiple potential buyers, including NTPC Green Energy , for the proposed stake sale, people said, adding that the discussions are at a very preliminary stage. Gentari global CEO Sushil Purohit is likely to visit India in the coming weeks to meet potential investors and accelerate the stake sale talks, the people said. Interested parties will be required to sign non-disclosure pacts to access Gentari's books as part of the due diligence process. Gentari would prefer to sell a minority stake in the India unit but is open to the idea of sharing control with a potential investor, people said. Gentari and Standard Chartered did not respond to ET's requests for comment. "There is no development or proposal underway regarding the stake asked in the query," NTPC Green said. People familiar with Gentari's discussions said valuations for green energy assets have waned since last year, as global enthusiasm for renewables has cooled and fossil fuel companies are under less pressure to decarbonise. Purohit told ET in February that Gentari's projects in India were developing well and that funding was not "a big challenge at this point in time." He said Gentari had the "full support" of parent Petronas. Since the return of pro-fossil fuel US President Donald Trump earlier this year, green energy has been losing the strong support it once enjoyed globally. Several oil and gas producers who ventured into renewables are now scaling back their ambitions, while buyers previously willing to pay a premium for green assets have turned cautious. Oil supermajors Shell and BP have weakened their green goals and are refocusing on expanding their core oil and gas businesses in pursuit of higher returns. Gentari operates across multiple countries in the Asia-Pacific region, with an ambition to install 30-40 GW of renewable energy capacity, capture over 10% market share in public charging points and vehicle-as-a-service segments in key markets, and become a major supplier of clean hydrogen. In India, Gentari has both utility-scale and distributed green energy projects. The company has also been expanding its EV charging network in partnership with local automakers and other stakeholders.
Time of India
19 hours ago
- Business
- Time of India
Gentari plans to offload up to 50% stake in India arm
Gentari, the renewable energy arm of Malaysian national oil & gas company Petronas, is seeking to sell up to a 50% stake in its India unit in what could potentially become one of the largest green energy deals in the country, said people with direct knowledge of the matter. Gentari has appointed Standard Chartered Bank as its transaction advisor. Gentari India has a substantial portfolio comprising 4 GW of operational assets, 4 GW under construction, and an additional 4 GW in the pipeline, according to information shared by the transaction advisor with potential investors. For context, last December, JSW Energy agreed to acquire O2 Power's 4.7 GW portfolio, including 1.5 GW under construction and 1 GW of pipeline projects, at an enterprise value of $1.5 billion. Standard Chartered Bank has approached multiple potential buyers, including NTPC Green Energy , for the proposed stake sale, people said, adding that the discussions are at a very preliminary stage. Gentari global CEO Sushil Purohit is likely to visit India in the coming weeks to meet potential investors and accelerate the stake sale talks, the people said. Interested parties will be required to sign non-disclosure pacts to access Gentari's books as part of the due diligence process. Gentari would prefer to sell a minority stake in the India unit but is open to the idea of sharing control with a potential investor, people said. Gentari and Standard Chartered did not respond to ET's requests for comment. "There is no development or proposal underway regarding the stake asked in the query," NTPC Green said. People familiar with Gentari's discussions said valuations for green energy assets have waned since last year, as global enthusiasm for renewables has cooled and fossil fuel companies are under less pressure to decarbonise. Purohit told ET in February that Gentari's projects in India were developing well and that funding was not "a big challenge at this point in time." He said Gentari had the "full support" of parent Petronas. Since the return of pro-fossil fuel US President Donald Trump earlier this year, green energy has been losing the strong support it once enjoyed globally. Several oil and gas producers who ventured into renewables are now scaling back their ambitions, while buyers previously willing to pay a premium for green assets have turned cautious. Oil supermajors Shell and BP have weakened their green goals and are refocusing on expanding their core oil and gas businesses in pursuit of higher returns. Gentari operates across multiple countries in the Asia-Pacific region, with an ambition to install 30-40 GW of renewable energy capacity, capture over 10% market share in public charging points and vehicle-as-a-service segments in key markets, and become a major supplier of clean hydrogen. In India, Gentari has both utility-scale and distributed green energy projects. The company has also been expanding its EV charging network in partnership with local automakers and other stakeholders.
Economic Times
a day ago
- Business
- Economic Times
Gentari plans to offload up to 50% stake in India arm
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Gentari, the renewable energy arm of Malaysian national oil & gas company Petronas, is seeking to sell up to a 50% stake in its India unit in what could potentially become one of the largest green energy deals in the country, said people with direct knowledge of the has appointed Standard Chartered Bank as its transaction India has a substantial portfolio comprising 4 GW of operational assets, 4 GW under construction, and an additional 4 GW in the pipeline, according to information shared by the transaction advisor with potential context, last December, JSW Energy agreed to acquire O2 Power's 4.7 GW portfolio, including 1.5 GW under construction and 1 GW of pipeline projects, at an enterprise value of $1.5 Chartered Bank has approached multiple potential buyers, including NTPC Green Energy , for the proposed stake sale, people said, adding that the discussions are at a very preliminary global CEO Sushil Purohit is likely to visit India in the coming weeks to meet potential investors and accelerate the stake sale talks, the people said. Interested parties will be required to sign non-disclosure pacts to access Gentari's books as part of the due diligence would prefer to sell a minority stake in the India unit but is open to the idea of sharing control with a potential investor, people and Standard Chartered did not respond to ET's requests for comment. "There is no development or proposal underway regarding the stake asked in the query," NTPC Green familiar with Gentari's discussions said valuations for green energy assets have waned since last year, as global enthusiasm for renewables has cooled and fossil fuel companies are under less pressure to told ET in February that Gentari's projects in India were developing well and that funding was not "a big challenge at this point in time."He said Gentari had the "full support" of parent the return of pro-fossil fuel US President Donald Trump earlier this year, green energy has been losing the strong support it once enjoyed globally. Several oil and gas producers who ventured into renewables are now scaling back their ambitions, while buyers previously willing to pay a premium for green assets have turned supermajors Shell and BP have weakened their green goals and are refocusing on expanding their core oil and gas businesses in pursuit of higher operates across multiple countries in the Asia-Pacific region, with an ambition to install 30-40 GW of renewable energy capacity, capture over 10% market share in public charging points and vehicle-as-a-service segments in key markets, and become a major supplier of clean hydrogen. In India, Gentari has both utility-scale and distributed green energy projects. The company has also been expanding its EV charging network in partnership with local automakers and other stakeholders.
Time of India
a day ago
- Business
- Time of India
Gentari plans to offload up to 50% stake in India arm
Gentari, the renewable energy arm of Malaysian national oil & gas company Petronas, is seeking to sell up to a 50% stake in its India unit in what could potentially become one of the largest green energy deals in the country, said people with direct knowledge of the matter. Gentari has appointed Standard Chartered Bank as its transaction advisor. Gentari India has a substantial portfolio comprising 4 GW of operational assets, 4 GW under construction, and an additional 4 GW in the pipeline, according to information shared by the transaction advisor with potential investors. For context, last December, JSW Energy agreed to acquire O2 Power's 4.7 GW portfolio, including 1.5 GW under construction and 1 GW of pipeline projects, at an enterprise value of $1.5 billion. Standard Chartered Bank has approached multiple potential buyers, including NTPC Green Energy , for the proposed stake sale, people said, adding that the discussions are at a very preliminary stage. Gentari global CEO Sushil Purohit is likely to visit India in the coming weeks to meet potential investors and accelerate the stake sale talks, the people said. Interested parties will be required to sign non-disclosure pacts to access Gentari's books as part of the due diligence process. Gentari would prefer to sell a minority stake in the India unit but is open to the idea of sharing control with a potential investor, people said. Gentari and Standard Chartered did not respond to ET's requests for comment. "There is no development or proposal underway regarding the stake asked in the query," NTPC Green said. People familiar with Gentari's discussions said valuations for green energy assets have waned since last year, as global enthusiasm for renewables has cooled and fossil fuel companies are under less pressure to decarbonise. Purohit told ET in February that Gentari's projects in India were developing well and that funding was not "a big challenge at this point in time." He said Gentari had the "full support" of parent Petronas. Since the return of pro-fossil fuel US President Donald Trump earlier this year, green energy has been losing the strong support it once enjoyed globally. Several oil and gas producers who ventured into renewables are now scaling back their ambitions, while buyers previously willing to pay a premium for green assets have turned cautious. Oil supermajors Shell and BP have weakened their green goals and are refocusing on expanding their core oil and gas businesses in pursuit of higher returns. Gentari operates across multiple countries in the Asia-Pacific region, with an ambition to install 30-40 GW of renewable energy capacity, capture over 10% market share in public charging points and vehicle-as-a-service segments in key markets, and become a major supplier of clean hydrogen. In India, Gentari has both utility-scale and distributed green energy projects. The company has also been expanding its EV charging network in partnership with local automakers and other stakeholders.
The Star
a day ago
- Business
- The Star
PETRONAS should adapt to new energy transition demands amid economic and geopolitical uncertainties
Petroliam Nasional Bhd (PETRONAS) president and group chief executive officer (CEO) Tan Sri Tengku Muhammad Taufik Tengku Aziz speaking at Energy Asia 2025 KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) must face new demands in the energy transition era to remain relevant amid current economic uncertainties and geopolitical tensions. Its president and group chief executive officer, Tan Sri Tengku Muhammad Taufik Tengku Aziz, said that in the short term, hydrocarbon production must be cleaner and lower in carbon intensity to reduce greenhouse gas emissions, in addition to addressing methane leaks according to standards. "Firstly, gold certification for oil and gas methane partnership (OGMP) 2.0 is a must. Secondly, we will avoid flaring or routine venting of gas, and so far, more than 20 of our assets have tackled this by practising zero routine flaring. "In the medium to long term, offerings such as carbon capture and storage (CCS) and specialty chemicals should be accelerated as soon as possible, and I believe this requires the right platform, and investments need to be made,' he told Bernama TV in an exclusive interview during the Energy Asia 2025 conference here yesterday. Tengku Muhammad Taufik highlighted that the national oil and gas company must undergo a transformation, where it is no longer optional but a necessity to prepare for a low-carbon energy system. "In the past, we were production-oriented; we produced, and people would buy. Now, we need to understand more; we will only produce what people are willing to buy. "Willing to buy in terms of capability and needs, so if it is just to supply energy in the form of liquefied natural gas (LNG) to traditional markets like Japan, perhaps now it is not enough,' he said. Tengku Muhammad Taufik said PETRONAS is focusing on high-value assets and implementing strategic portfolio optimisation, including increasing or reducing holdings to optimise capital allocation, improve returns, and strengthen focus to support sustainable growth. "Like any other energy player in the sector, optimising the portfolio is a mandatory activity and will always be practised. "If this implementation requires us to sell assets with possibly higher carbon emissions and replace them with new assets that can extend the production life from the upstream sector, we will do that,' he said. For the downstream sector, Tengku Muhammad Taufik said that if the divestment of assets causes margins to be affected, PETRONAS will replace them with assets that have more stable margins and are less exposed to uncertainties. "This is where entities like Gentari come in, profits might be less, but it is less exposed to uncertainties,' he said. Gentari is a clean energy solutions company, wholly owned by PETRONAS. - Bernama
