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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.

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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.

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Wall Street Journal: Renewable Energy Powers Up Rural India

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

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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.

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Fortune India: Light club – India’s solar entrepreneurs

A clutch of entrepreneurs is taking electricity to the country’s remotest parts on a pay-per-use basis. But can they scale up in a sector that’s still trying to find its feet?

Fortune Magazine on OMC – Light Club

OMC’s MD & Co-Founder Rohit Chandra, photo by Bandeep Singh

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