Other Private Equity/Strategic Investments
Japan's Chubu Electric to buy 20% stake for $39-M in rural renewable energy co OMC Power
Japan's Chubu Electric Power Co Inc will invest 5 billion yen (USD 39 million) to buy a 20% stake in Gurugram-based rural renewable energy service company, OMC Power Pvt Ltd, through a third-party allotment of shares. Chubu Electric aims to contribute to OMC, in which Japanese trading house Mitsui & Co also has a stake, by leveraging its operation and maintenance skills for power generation, transmission and distribution. OMC operates about 280 renewable energy plants to provide electricity for telecom companies, small and medium businesses and rural houses via mini-grids, using storage batteries, in Uttar Pradesh and Bihar.
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