Japan’s Chubu Electric to up stake in OMC Power to 35%

Japan-based Chubu Electric, a player in electrical engineering solutions, is to increase its stake in Gurugram-based OMC Power . Chubu had earlier invested in OMC Power for a 20% stake. With the latest investment, its stake will go up to over 35% and Chubu would become the single-largest stakeholder in OMC Power. Mitsui & Co has over 25% stake in OMC Power.OMC operates over 500 plants, supplying clean energy to telecom towers, institutional rooftops, rural communities, and the C&I (commercial and industrial) sectors. The latest investment will help OMC Power commission 100 MW of energy transition projects in the near term and expand presence in India and South Africa.