Question
GIC, Singapore, has launched a new platform in India to
fund smart metering projects in the country with a capital outlay of $2 billion.GIC will hold a _______ stake; the balance will be Genus.Solution
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 percent 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.
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