25 Jan '11, 8am

GIC to partner ArcLight and GE in US power plant investment

GIC to partner ArcLight and GE in US power plant investment

SINGAPORE: Singapore sovereign wealth fund Government of Singapore Investment Corporation (GIC) has agreed to partner ArcLight Capital Partners and GE Energy Financial Services in five natural-gas power plants in Georgia, southeast of the United States. GE and GIC will each acquire 24.95 per cent in the portfolio from an affiliate of ArcLight called Consolidated Asset Management Services. The affiliate will retain the remaining 50.10 percent and sole ownership of the portfolio. Located in Georgia, the plants comprise a combined cycle facility and four single-cycle peaking facilities. Together, they are capable of generating more than 2,500 megawatts of power, with some plants using GE gas-fired turbines. All five plants are integral to regional power supply and grid stability, and are contracted under long-term agreements to investment-grade counterparties and are managed ...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

Tweets

Share with us when you think the GE will be held. Take our online poll now!

Share with us when you think the GE will be hel...

straitstimes.com 24 Jan '11, 3am

Prime Minister Lee Hsien Loong visits a wet market during his walkabout in Teck Ghee. -- ST PHOTO: CHEW SENG KIM QUELLING ...

StanChart to acquire GE Money

StanChart to acquire GE Money

channelnewsasia.com 24 Jan '11, 6am

SINGAPORE: Standard Chartered Bank said it has signed an agreement with a subsidiary of GE Capital to acquire GE Money, a ...

Singapore eyes more investment in Indonesia

channelnewsasia.com 17 Jan '11, 5am

SINGAPORE: The Government of Singapore Investment Corp (GIC) wants to step up its investment in fast-growing Indonesia, pa...