Japan-based Chubu Electric, a global leader in electrical engineering solutions, has signed an agreement with OMC Power to increase investment in the company.
The investment will help OMC Power commission 100 MW of energy transition projects in the near term and expand presence in India and South Africa, Chubu Electric said in a statement.
OMC has built and operates over 500 plants, supplying clean energy commercial sectors.
With the additional investment, Chubu Electric will further solidify partnership and help to scale up renewable energy infrastructure and expand the deployment of distributed energy systems, said OMC Power.
The investment aims to accelerate the growth of OMC Power’s clean energy model, which focuses on the development of solar-powered renewable energy solutions, it added.
OMC Power provides green energy to telecom infrastructure thereby replacing diesel generators. In the institutional rooftop segment, OMC is enabling energy transition through sustainable power systems, lowering costs.
In rural areas, OMC provides affordable, renewable energy solutions through its smart grids. Additionally, it empowers commercial establishments and industries with sustainable energy offerings that enhance business viability and promote long-term economic stability.
With over 500 installations across various sectors, OMC’s energy solutions are helping to mitigate climate change while meeting the energy demands of tomorrow.
Rohit Chandra, MD & CEO, OMC Power, said the increased investment by Chubu Electric will aid expansion of capacity by over 100 MWp in the current fiscal, enhance technological capabilities and extend renewable energy footprint in India.
Over the past two years, the partnership has fostered valuable cross-learning in the energy sector, driving innovation and growth.
Fumiaki Kashimori, Deputy Division CEO, Global Business Division, Chubu Electric Power Co Inc, said the investment in OMC Power represents a significant step towards achieving the company’s sustainability goals and will have a sustainable impact on rural communities.
“We believe that renewable energy is the key to a cleaner and more sustainable future,” he said.