Published On:November 15 2024
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Chubu Electric to Boost Investment in OMC Power Under New Agreement.
Japan-based Chubu Electric has signed an agreement to increase its investment in OMC Power, aiming to accelerate the commissioning of 100 MW of energy transition projects and expand operations in India and South Africa.
OMC Power, which operates over 500 clean energy plants, provides solar-powered renewable energy solutions across telecom, institutional, and rural sectors. The additional funding will enhance OMC’s capacity to scale its distributed energy systems and renewable infrastructure, the companies announced.
The partnership will focus on expanding OMC’s solar energy projects, replacing diesel generators with green energy solutions for telecom infrastructure, and driving sustainable power adoption in rural areas through smart grids. These initiatives aim to lower costs, improve energy access, and support long-term economic stability in underserved regions.
Rohit Chandra, MD & CEO of OMC Power, stated that Chubu Electric’s increased investment will enable the company to boost capacity by over 100 MWp this fiscal year, strengthen technological capabilities, and extend its renewable footprint in India.
Fumiaki Kashimori, Deputy Division CEO of Chubu Electric's Global Business Division, emphasized that the partnership aligns with Chubu Electric’s sustainability goals. “Renewable energy is key to a cleaner, more sustainable future. This investment will significantly benefit rural communities while advancing our global green energy objectives,” he said.
Over the past two years, the collaboration has fostered cross-learning and innovation, furthering both companies’ mission to mitigate climate change and meet the energy demands of the future.
HBL