Mitsui Eyes Indian Solar JV – Report

Mitsui Eyes Indian Solar JV – Report

Japanese trader Mitsui & Co Ltd (TYO:8031) plans to pour almost JPY 1 billion (USD 9.1m/EUR 7.6m) in Indian renewable project developer OMC Power Pvt Ltd and form a solar power joint venture (JV), the Nikkei Asian Review writes today.

The investment will enable the Japanese firm to construct small-scale solar parks in Indian regions that have no access to electricity or are suffering from unreliable supply. According to the report, the JV will be involved in the construction of solar plants and battery storage for industrial buildings.

OMC, former Omnigrid Micropower Co Pvt Ltd, says on its website it builds, operates and owns micropower plants powered by sun, wind and biogas and equipped with energy storage systems. The company has built 75 solar plants, which are generating power for telecom base stations in India. It also operates photovoltaic (PV) plants in rural areas. By the end of fiscal 2018, the company aims to have 250 of solar arrays. Read More…




Credit By: Renewables Now

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