GIC, Genus Power Infra tie up to invest $2 bn in smart meter venture
GIC, Singapore, has launched a new platform in India to fund smart metering projects in the country. The leading global investment firm has joined hands with Genus Power Infrastructures (Genus), a leading metering company, to set up the platform. GIC will hold a 74 per cent stake; the balance will be Genus.
The partners have committed to an initial pipeline with a capital outlay of $2 billion, and Genus would be the exclusive supplier to the platform for smart meters and associated services, Genus said in a public statement.
