OMC Power Announces Agreement with IREDA

OMC Power recently signed a long-term partnership with the Indian Renewable Energy Development Agency Ltd. (IREDA) to develop a rural renewable energy ecosystem.

May 09, 2022. By News Bureau

OMC Power will get financial assistance from the IREDA to set up renewable energy facilities in Uttar Pradesh communities, which will supply sustainable electricity. OMC Power now owns and operates 280 renewable energy units in Uttar Pradesh and Bihar.

OMC Power recently signed a long-term partnership with the Indian Renewable Energy Development Agency Ltd. (IREDA) to develop a rural renewable energy ecosystem.

To substantially lower the carbon impact in rural India, OMC Power wants to expand its presence to 1000 sites. Renewable energy plays a critical role in the battle against climate change and effortlessly meets future energy demands. To compound the dangers of global warming, the energy sector needs to work together.

This cooperation will attempt to achieve long-term sustainability by supplying green and clean energy in rural areas under IREDA's "Access to Energy" scheme. The scheme's principal goal is to improve project developers' access to financing in order to boost the supply and consumption of sustainable clean energy services in rural areas.

The German Development Bank, KFW, has backed the facility. This will also boost rural areas' overall economic strata in a systematic way.
OMC and IREDA's long-term partnership will deepen and reinforce their common vision of sustainable energy development for a better and brighter future.

By offering access to power on demand, OMC Power and the Indian Renewable Energy Dev Agency Ltd. (IREDA) would stimulate economic growth among India's rural population. It will have a huge impact on the rural economy, particularly in the areas of agriculture, education, and health.
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