OMC Power to invest Rs 4,000 cr to build 1k MW clean energy portfolio in 3-5 years
OMC Power is looking to build up a renewable energy portfolio of 1,000 MWp with an investment of Rs 4,000 crore across various locations in the country, the company's MD & CEO Rohit Chandra said. The homegrown entity which is backed by Japanese like Mitsui & Co. and Chubu Electric Power, aims to set up these capacities across four business verticals over the next 3 to 5 years.
In an interaction with PTI, Chandra said, "OMC Power scaling rapidly with the ambition to build a 1 GWp clean energy portfolio spanning north and central India." When asked about investments, he said the company's ambitious plan will involve around Rs 4,000 crore investment. It will be a 10 times rise in capacity from 100 MWp (mega watt peak) operated at present, over the next three to five years, the CEO said.
Sharing a break-up of the planned 1 GWp (gigawatt peak) or 1,000 MWp capacity, Chandra said around 600 MWp will be achieved from rooftop solarization for customers in healthcare space where it has a capacity of 75 MWp. Around 200 MWp will be added in its green energy for telecom vertical where the company supplies power to tower companies from 15 MWp capacity. To serve rural areas, the company plans to add another 100 MWp in smart grids where it has 10 MWp of operational capacity.
OMC Power will add 100 MWp in solar EPC space for MSME and C&I (Commercial and Industrial customers) customers from 5MWp.
All these projects will be worked out in Uttar Pradesh, Uttarkhand, Madhya Pradesh, Bihar, Jharkhand, Assam, and northeastern states. When asked about source of investments, Chandra said, "We have decided to move ahead with the plan as OMC Power has turned profitable. The capacity addition plan will be funded through internal accruals, some portion will come from existing Japanese investors and through debt from financial institutions."
As per company information, OMC Power has reported a Profit After Tax (PAT) of Rs 0.48 crore in Q1 FY26, marking a positive turnaround after several consecutive quarters of losses.
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