In the largest acquisition of a global energy utility by an Indian company, GMR Infrastructure in June agreed to buy a 50% stake in the global power generation company InterGen for US$1.1 billion.
InterGen has stakes in 12 operating power plants, including one under construction, with a gross capacity of 8,258 MW and 4,822 MW of assets under development. The average age of its operating plants is 5.5 years.
GMR said its purchase of a stake in InterGen will give it global clout and allow it to compete for major Indian projects.
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