The state-owned energy company is working with an adviser and has drawn interest from infrastructure funds and industry peers, the people said, asking not to be identified as the process is private.

The stake could be worth US$300 million to US$500 million, the people said, though they added that considerations are preliminary and the size of the sale and Gentari’s valuation are still under discussion.

Petronas may also decide not to sell, they said. Petronas did not respond to requests for comment.

Petronas established Gentari in 2022 with the aim of delivering “a suite of renewable energy, hydrogen and green mobility solutions”, it said in a statement at the time.

The unit has goals for 2030, including having 30 to 40 gigawatts of renewable energy capacity, developing hydrogen projects, and supporting electric-vehicle adoption. As of the end of the first half of this year, Gentari had 3.6 GW cumulative capacity, of which 2.4 GW was installed.