The GMR group has agreed to buy out international power producer InterGen NV's 100% stake in Island Power, a Singapore-based private electric utility company. The project will bring over approximately $1.5 billion in foreign direct investment into Singapore, GMR Infrastructure said in a release to the stock exchanges. Join discussion...

The SPV will have a total capital cost of $953 million, the company informed BSE. GMR Energy promoted thermal power project in Orissa has achieved a financial closure with Infrastructure Development Finance Company (IDFC) Ltd picking up a 20% stake in project. Join discussion...