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Time of India
18 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.
Business Standard
05-05-2025
- Business
- Business Standard
Amplus Solar Rebrands to Gentari - a Unified Step Forward to Drive Next Phase of Clean Energy Growth
NewsVoir New Delhi [India], May 5: Clean energy solutions company Gentari announces the integration of its Commercial & Industrial (C & I)-focused platform, Amplus Solar, into the Gentari brand, marking a significant milestone in its journey in India. This strategic move not only reflects a unified brand identity but also signals the consolidation of Gentari's renewable energy (RE) business in the country. Amplus Solar has been part of the Gentari group since 2023, contributing significantly to Gentari's renewables portfolio. This integration further brings together Amplus Solar's deep expertise in the C & I segment with Gentari's broader utility-scale ambitions. By operating under a single brand, Gentari will be able to advance stronger alignment across teams and functions, positioning the group to deliver more cohesive and scalable clean energy solutions across both distributed and utility-scale segments. "This rebrand represents more than just a name change - it marks the next phase of Gentari's integrated strategy for India as one of our key markets. By bringing together our capabilities in C & I and utility-scale renewables under one roof, we are strengthening our foundation to deliver greater value to our customers. Under a united Gentari brand, we intend to take a more unified and impactful approach in accelerating energy transition in India," said Sushil Purohit, Chief Executive Officer of Gentari. As part of this transition, Sharad Pungalia has been appointed as the Gentari Head of India. Sharad, who has been serving as the Chief Executive Officer of Amplus Solar, has been instrumental in scaling Amplus Solar, overseeing the growth of more than 2.4 GW of operational and under-construction distributed energy assets. With over 20 years of experience in India's energy sector, Sharad will now lead Gentari's overall integrated operations in India, spanning its Renewable Energy, Hydrogen, and Green Mobility businesses, reinforcing the company's commitment to supporting India's clean energy transition and contributing to Gentari's global aspirations. "Sharad's leadership at Amplus Solar has been instrumental in strengthening Gentari's foothold in the renewables space. His depth of industry experience and track record in scaling clean energy solutions position him well to further propel our India operations forward. We are confident that under his leadership, we will continue to unlock significant value for our stakeholders," said Sushil Purohit, Chief Executive Officer of Gentari. Gentari is focused on delivering the solutions required to put clean energy into action today, to transform how we live tomorrow. Gentari's three initial core pillars of Renewable Energy, Hydrogen and Green Mobility form a comprehensive portfolio of solutions to help consumers in their decarbonisation journey. Its mission is to be the leading next-generation Commercial and Industrial (C & I) and utility-scale renewable energy developer, a scale hydrogen producer and go-to industry partner, and to be Asia Pacific's leading green mobility solutions partner. In the long term, Gentari aims to be the most valued clean energy solutions partner, creating greater impact, connecting businesses, and making the journey to a net zero future, possible.
