Amplus eyeing Renew’s solar rooftop portfolio

Amplus Energy Solutions Pvt. Ltd is in talks to acquire Goldman Sachs-backed ReNew Power’s rooftop solar portfolio of 140 megawatts (MW), said two people familiar with the matter on condition of anonymity.

The proposed deal by Amplus, owned by Malaysia’s state-run oil and gas firm, Petroliam Nasional Bhd, could rank among the largest so far in India’s solar rooftop space, underscoring growing consolidation in the commercial and industrial (C&I) segment.

“We keep on exploring consolidation opportunities in the C&I space,” said Sanjeev Aggarwal, founder and managing director of Amplus. He declined to comment on the deal with ReNew Power.