Petronas is on the verge of finalising a $1.6 billion agreement to acquire a 25 percent stake in the ammonia unit of AM Green. Earlier this year, Petronascompeted with BP to make an investment of $1.5-2 billion for a significant minority stake in AM Green. AM Green is entirely owned by the founders of Greenko, Anil Chalamalasetty and Mahesh Kolli.
This development is occurring at a time when global investors are showing strong interest in the burgeoning green sector of India’s rapidly growing economy. India is committed to meeting its climate change targets, making it an attractive destination for investments in environmentally-friendly ventures.
French energy giant Total recently disclosed plans to invest $300 million in a joint venture with Adani Green Energy Ltd, focusing on solar and wind projects. As reported by ETEnergyworld.com, Saudi Arabia’s sovereign wealth fund is exploring the possibility of establishing an office in India, signaling the kingdom’s keen interest in investing in sectors such as green energy and petrochemicals.
