Singapore sovereign wealth fund (SWF) Government Investment Corp. (GIC) is partnering with GE Energy Financial Ser- vices and Boston-based private-equity firm Arc Light Capital to invest in five gas-fired power plants in the US state of Georgia. GE said the plants will together represent the largest fully independent power producer in the southeastern US. GE and GIC will both acquire 24.95% from Arc Light, which will hang on to the remaining 50.1%. Financial details were not disclosed. The deal is subject to ap- proval by the US Federal Energy Regula- tory Commission and Committee on For- eign Investment in the US, with closing expected by the end of March.
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