Sterlite Power and GIC announce a joint venture to develop and operate power transmission projects in India. Sterlite Power will hold a majority 51% stake, with GIC owning 49%. With a focus on India s transmission sector, the venture aims to leverage a USD 13 billion bid pipeline, signaling confidence in India s growth vision.
Under the terms of the agreement, Sterlite Power, a private power transmission developer in India, will hold a majority stake of 51%, while GIC will own the remaining 49% stake in the joint venture platform.
Sterlite Power will own the majority stake of 51% and GIC will own the remaining 49% stake in the new platform to develop and operate power transmission projects in India
Singapore’s GIC Private Limited is increasing its investment activity in India. The Singaporean sovereign wealth fund is keen on the country’s need for energy infrastructure. The JV platform will be positioned to target the new opportunities emerging from the need for over US$ 13 billion of CAPEX announced by the Government of India. Sterlite Power…