Under the partnership for this project, ReNew has said it will invest around ₹313 crore ($38 million) for its 51% stake in the project and through affiliates, will provide EPC, O&M, and project management services for the project.
Pertamina Hulu Energi (PHE) will take 20 per cent and Petronas Masela Sdn Bhd will take a 15 per cent stake in the Indonesian gas block, the companies said at a signing ceremony at the Indonesia Petroleum Association conference.
According to two sources familiar with the matter, the discussions have reached an advanced stage, and the loan is expected to be sanctioned soon.
As of March 31, the company's portfolio was at 13.7 gw capacity, 28.2% higher year-on-year. Of this, 8 gw is commissioned while 5.7 gw is committed.
Shell has been looking to sell its 35 per cent participating interest in the Masela project since 2019. Japanese energy company Inpex Corp holds a 65 per cent controlling stake in the venture, also known as the Abadi LNG project.
Discussions have advanced with both parties and Greenko is expected to select one of the two energy majors for now, the people mentioned above added. Once concluded, this will be the biggest overseas investment in a green ammonia and hydrogen project till date in India.
ACME is buying land for solar installations. Petronas is scouting for 10,000 acres in Tamil Nadu. The third big investment proposal has come from IGSS Venture’s ₹25,600 crore semiconductor park on 300 acres.
Malaysian oil major Petroliam Nasional Bhd. made the highest offer of nearly 41.3 billion rupees (USD 503 million) for a 20 per cent stake in NTPC Green Energy Ltd., according to people familiar with the matter.
"Our plan is to complete the work by Q1 2024," said Shamsairi Ibrahim, vice president of LNG marketing and trading at the company, known as Petronas. The facility's restart is subject to approval from local authorities, he said.
Malaysian Prime Minister Anwar Ibrahim said on Tuesday China was worried about activity by the state energy firm Petronas in a part of the South China Sea that Malaysia says is its territory.
He said that the company is also focusing on utility-scale solar and deploying EV charging infrastructure in India
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