BENGALURU : Indian meter manufacturer Genus Power Infrastructures said on Tuesday that it signed agreements for setting up a platform to fund smart metering projects with an affiliate of Singapore sovereign wealth fund GIC at an initial commitment of $2 billion.Genus would be the exclusive supplier to the
BENGALURU : Indian meter manufacturer Genus Power Infrastructures said on Tuesday that it signed agreements for setting up a platform to fund smart metering projects with an affiliate of Singapore sovereign wealth fund GIC at an initial commitment of $2 billion.
GIC will hold a 74 per cent stake in the platform, while Genus will hold a 26 per cent stake in the partnership, it added. The Indian government has been pushing for the implementation of smart meters and last year it launched the Revamped Distribution Sector Scheme aimed at improving the operational efficiencies and financial sustainability of power distribution companies.
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