Genus, GIC affiliate to set up platform to fund smart metering projects
Genus Power Infrastructures Ltd (Genus Power) on Tuesday announced the signing of definitive agreements with Gem View Investment, an affiliate of GIC, Singapore for setting up a platform for undertaking advanced metering infrastructure service provider concessions.
GIC will hold a 74 per cent stake while Genus will hold a 26 per cent stake in the platform, the company said in a BSE filing.
The two partners have committed to an initial pipeline with a capital outlay of $2 billion. Genus would be the exclusive supplier to the platform for smart meters and associated services, it said.
