Corporate
Monday, 04 September 2017 17:07

“Mitsui” enter into strategic partnership with OMC Power

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04/09/2017

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.

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 thedemand 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.

Additional Info

  • News Section: Corporate
  • Month: September
  • Year: 2017
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