VMPL
Gurgaon (Haryana) [India], November 14: Chubu Electric Japan, a global leader in electrical engineering solutions, announced an increased investment in OMC Power, one of the foremost innovators in distributed renewable energy solutions. This investment underscores Chubu's commitment to advancing sustainable energy development and supporting OMC Power's ambitious growth plans in the renewable energy sector.
With the additional investment, Chubu Electric will further solidify its partnership with OMC Power to scale up renewable energy infrastructure and expand the deployment of distributed energy systems across key impact segments that will help bolster the infrastructure. This collaboration aims to accelerate the growth of OMC Power's clean energy model, which focuses on the development of solar-powered renewable energy solutions.
OMC Power is driving a green energy revolution through its four pillars of Impactful Transformation. It is greening telecom infrastructure by replacing diesel generators with its innovative, carbon-neutral energy solutions, significantly reducing emissions. In the institutional rooftop segment, OMC is enabling energy transition through sustainable power systems, lowering costs. OMC also plays a critical role in energizing rural development, providing businesses and communities with affordable, renewable energy solutions through its smart grids that is spurring economic growth. Additionally, it empowers C&Is with sustainable energy offerings that enhance business viability and promote long-term economic stability. With over 500 installations across various sectors, OMC's reliable and environmentally friendly energy solutions are helping to mitigate climate change while meeting the energy demands of tomorrow. The future of the energy sector depends on collaborative efforts to transition to clean power and prevent the worsening impacts of global warming.
* This increased investment will aid our expansion by over 100 Mwp
* Expansion of Renewabe Energy Infrastructure in Northern and Western India and Africa Region.
* The Investment will be utilized to develop renewable energy solution and capabilities in rural India to offer affordable last mile roof top solar energy.
"We are delighted to have Chubu Electric Japan's' continued support as we advance our mission of delivering sustainable and affordable energy transition at the grass roots. This increased investment will aid our expansion by over 100 Mwp in the current fiscal, enhance our technological capabilities and extend our renewable energy footprint in India. Over the past two years, our partnership has fostered valuable cross-learning within the energy sector, driving innovation and growth. Chubu's investment aligns seamlessly with OMC's vision of scaling our distributed energy business and entering new geographies. By combining OMC Power's expertise in distributed energy with Chubu's extensive industry knowledge, we are poised to develop robust, sustainable energy infrastructure that meets the needs of tomorrow," said Rohit Chandra, MD & CEO, OMC Power Ltd.
"Our increased investment in OMC Power represents a significant step towards achieving our sustainability goals while supporting the development of renewable energy solutions that have a transformative and sustainable impact on rural communities. We believe that renewable energy is the key to a cleaner and more sustainable future, and we are excited to collaborate with OMC Power on this journey."," said Fumiaki Kashimori, Deputy Division CEO of Global Business, Global Business Division at Chubu Electric Power Co. Inc.
Chubu continues to contribute to the realization of a decarbonized society and reinforce its earnings base through an optimal combination of four segments: Green Field, Blue Field, Retail / Transmission & Distribution / New Services, and New Technology Field.
A Future-Focused Partnership: The partnership between Chubu and OMC Power aligns with global efforts to combat climate change and transition to a more sustainable energy future. Chubu's expertise in advanced electrical technologies and OMC Power's proven track record in renewable energy innovation create a powerful synergy that will contribute to advancing the global renewable energy agenda. Chubu and OMC Power align with global efforts to combat climate change and transition to a more sustainable energy future. Chubu's expertise in advanced electrical technologies and OMC Power's proven track record in renewable energy innovation create a powerful synergy that will contribute to advancing the global renewable energy agenda.
About OMC Power Pvt Ltd: OMC Power Pvt Ltd: OMC Power is a company pioneering energy transition at grassroots. Since its founding in 2011, OMC has built and operates over 500 plants, supplying clean energy to telecom towers, institutional rooftops, rural communities, and the C&I sectors. Recognized for its leadership in sustainability, OMC was awarded the Most Sustainable Organization by The Economic Times in 2023 and acknowledged by the World Economic Forum as a technology pioneer. Its CEO & MD Rohit Chandra was also named the Most Promising Business Leader in Asia in 2023 by The Economic Times. With a mission rooted in relentless innovation, OMC aims to set new benchmarks in the renewable energy sector and drive a cleaner, more sustainable future for all.
About Chubu Electric Power Co., Inc.: Founded in 1951, Chubu Electric is a leading energy provider in Japan's Chubu region, supplying reliable and affordable electricity to over 10 million customers. Committed to a sustainable future, the company focuses on expanding renewable energy, enhancing energy efficiency, and achieving carbon neutrality by 2050. Chubu Electric is dedicated to environmental stewardship and corporate social responsibility, fostering close community ties while advancing a greener future.
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