GMR Group has signed an agreement with the international power producer InterGen NV (Intergen) to acquire Intergen's 100% ownership stake in Island Power- a Singapore based private Electric utility gas, to be located on Jurong Island, Singapore.

Island Power is currently developing an 800 MW combined-style power facility fired by natural gas to be located on Jurong Island , Singapore .

The project will bring approximately US$1.5bn (Rs72bn) (approximately) in Foreign Direct Investment into Singapore .