OMC Power's Ambitious 1,000 MWp Renewable Energy Expansion

OMC Power is set to significantly boost its renewable energy capabilities, aiming for a 1,000 MWp portfolio. This bold move involves a hefty Rs 4,000 crore investment, as confirmed by MD & CEO Rohit Chandra.

The initiative, supported by Japanese companies Mitsui & Co. and Chubu Electric Power, will unfold over four business verticals within three to five years. The expansion strategy includes rooftop solarization, green energy for telecom, smart grids for rural areas, and solar EPC, situated across northern and central Indian states.

Chandra emphasized the scale of growth, with current operations of 100 MWp set to expand tenfold. Funding will come from internal profits, investor contributions, and financial institution debt, marking a profitable turnaround as shown by a recent Rs 0.48 crore PAT.

(With inputs from agencies.)