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GMR plans energy expansion

NEW DELHI: GMR Energy Limited has signed a shareholders' agreement with Temasek Holdings, a Singapore-based Asia investment company, to raise capital for its energy expansion plans.

Temasek Holdings would invest U.S. $200 million through one of its wholly-owned subsidiaries.

GEL plans to enhance its installed power generation capacity from the current 808 MW to more than 6,500 MW over the next few years, thus triggering the need for significant capital investment to fund its expansion plans in the energy business.

According to Temasek Holdings India head, Manish Kejriwal, the energy sector within infrastructure was an attractive long-term investment area.

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