ON/OFF : The Micropower Blog.

Signing ceremony for the contracts of investment in OMC Power, an Indian Renewable Energy based Mini Grid Operator

Mitsui & Co., Ltd. (“Mitsui”) has entered into a strategic partnership with OMC Power Private Limited (“OMC”), an Indian renewable energy service company, which is one of the largest mini-grid operators in the world. To commemorate this partnership, a signing ceremony was held on August 22, 2017 in India, which was attended by Managing Officer Yoshio Kometani (Chief Operating Officer of Infrastructure Projects Business Unit) of Mitsui & Co. and the co-founders of OMC (Chairman Sushil Jiwarajka, Vice Chairman & Executive Director Rohit Chandra and Managing Director Anil Raj). By this investment in OMC, Mitsui will enhance its foray into the distributed energy business.

Mitsui OMC Investment Signing
Mitsui & Co. Infrastructure Projects Business Unit COO Yoshio Kometani (fourth from left), Chief Representative of Mitsui & Co. in South West Asia Hiromichi Yagi (fourth from right) and OMC Chairman Sushil Jiwarajka (third from left) at the signing ceremony.

OMC generates power mainly using solar and supplies energy to rural areas via its mini-grids to anchor loads such as telecom towers, local small and medium enterprises and rural households, in areas with limited or no electricity access.
The source of energy in these areas is currently fossil fuel based, that is diesel and kerosene. OMC provides electricity to such areas with high reliability, affordable cost and with positive impact on the environment. This further contributes to reduction of CO2 emissions and increased productivity, along with overall economic development of rural communities.

In recent years, India has experienced rapid economic growth, consequent to which the demand for electricity has been increasing. In the medium term, OMC aims to operate 1,000 mini grid based power plants (totaling to a generation capacity of 50 MW), which would deliver power to more than 1 million people. Mitsui intends to contribute to rural electrification in India through its investment in OMC as well as by joint project development with OMC, so as to capture the growth of Indian market. In additional to energy access for rural India, the strategic partnership also intends to provide value added services on the strength of availability of reliable electricity.

Mitsui and OMC’s collaboration extends beyond India, covering Africa and other parts of Asia, where there is a strong demand for distributed energy access and rural electrification.

OMC Info

Read the Press Release on the Mitsui & Co Website
In English :
Signing ceremony for the contracts of investment in OMC Power, an Indian Renewable Energy based Mini Grid Operator

In Japanese:
インドの分散電源事業者OMC Power社への出資に関する契約調印式を実施


Share

Renewable Energy for India: A New Deal Could Impact 250 Million People


Written by Brinda Ganguly, Sr. Associate Director, The Rockefeller Foundation

Read original blog post: rockefellerfoundation.org/blog


Recently, The Rockefeller Foundation and OMC Power closed a $4.5 million deal to finance OMC Power’s construction and retrofitting of 100 solar power plants in rural Uttar Pradesh, India to serve villages that do not have reliable access to power.

This deal is an example of a foundation engaging in impact investing—making an investment that generates social impact as well as a financial return.

(more…)

Share

PRESS RELEASE: Rockefeller Foundation & OMC reach US$4.5M deal

THE ROCKEFELLER FOUNDATION AND OMC POWER REACH A US$4.5M DEAL TO FINANCE 100 MINIGRIDS IN RURAL INDIA

The financial deal is part of the Foundation’s initiative to use renewable energy to electrify 1,000 villages


New York, the United States/Delhi, India, March 8, 2016The Rockefeller Foundation and OMC Power have reached a US$ 4.5 million deal to finance OMC Power’s construction and retrofitting of 100 solar power plants with minigrids, in rural Uttar Pradesh.

Map-1_mod

(more…)

Share

Wall Street Journal: Renewable Energy Powers Up Rural India

Solar startup Omnigrid supplies remote villages, relying on income from telecom towers

BN-JP864_INDSOL_M_20150729131120

Renewable-power companies serving remote areas of India often supply telecommunications companies and villages with solar energy. PHOTO: SAM PANTHAKY/AFP/GETTY IMAGES

HARDOI, India—A small field of solar panels on the outskirts of this rural district was built to generate energy for a cellphone tower. Now it also supplies electricity to local residents who have suffered from chronic power shortages for decades.

(more…)

Share