"Chubu Electric Increases Investment in OMC Power with New Agreement"

Japan-based Chubu Electric has signed an agreement to increase its investment in OMC Power, aiming to support the company’s expansion of renewable energy initiatives in India and South Africa. This strategic investment will help OMC Power commission 100 MW of energy transition projects in the near term, further enhancing its clean energy offerings.

OMC Power, which has built and operates over 500 energy plants, specializes in providing sustainable energy solutions to the commercial sector. The partnership with Chubu Electric will reinforce OMC Power's renewable energy infrastructure, enabling the wider deployment of distributed energy systems across diverse regions.

The additional funding will accelerate the growth of OMC Power’s solar-powered renewable energy projects, particularly in sectors like telecom, where the company is replacing diesel generators with green energy solutions. OMC is also making strides in the institutional rooftop market and rural areas, where it offers affordable renewable energy through smart grids.

Rohit Chandra, MD & CEO of OMC Power, emphasized that the increased investment will enable the company to expand its capacity by more than 100 MWp in the current fiscal year, while enhancing its technological capabilities and extending its renewable energy footprint in India.

Chubu Electric’s investment aligns with its long-term sustainability goals, as noted by Fumiaki Kashimori, Deputy Division CEO at Chubu Electric. "This partnership represents a significant step toward achieving our sustainability objectives, with a lasting impact on rural communities. We believe renewable energy is key to a cleaner, more sustainable future," he said.

Over the past two years, the collaboration between Chubu Electric and OMC Power has fostered innovation and growth in the energy sector, driving both companies toward their shared commitment to environmental sustainability.

HBL