Japan's KTD acquires 10% stake in OMC Power for Rs.160-Cr

Osaka, Japan-based electric power company Kansai Transmission and Distribution has acquired a 10% stake in Gurugram-based clean energy firm OMC Power for INR 160 crore. This investment marks Kansai Transmission and Distribution's initial foray into India's energy sector and making it the fourth Japanese entity to invest in OMC Power, following previous investments from Mitsui & Co, Chubu Electric Power, and Honda Motor Co.Founded in 2011, OMC Power is a net-carbon positive renewable energy company that builds, owns, and operates mini-grids and solar plants providing sustainable electricity to rural communities, telecom towers, and commercial businesses.The proceeds from this investment will be used to accelerate the development of its 1 GW portfolio and to build its smart grids business vertical.