Malaysian state energy firm Petronas said today it will acquire a 30 percent stake in GMR Energy, a Singapore-based subsidiary of India’s GMR Infrastructure.

“The proposed acquisition marks Petronas’ maiden venture into the international power market... as part of its future growth strategy,” it said in a statement.

Petronas did not disclose the purchase amount.

GMR Energy is developing an 800MW gas turbine power plant on Jurong island off Singapore.

- AFP