Petronas to acquire Amplus Energy Solutions from I Squared Capital.

Petronas, a Malaysian oil and gas company, agreed to acquire Amplus Energy Solutions, an Indian company that provides solar energy solutions to industrial and commercial consumers, from private equity firm I Squared Capital. Financial terms were not disclosed. "This acquisition reflects Petronas' strategic intent to grow in the renewable energy space as part of our strategy to step out beyond oil and gas into the new energy business. This also represents our first international solar venture and we look forward in providing energy solutions to our customers in these high growth energy markets," Tan Sri Wan Zulkiflee Wan Ariffin, Petronas President and Group Chief Executive Officer.