Japan's Chubu Elec to buy stake in India's OMC Power

31/5/2022 11:36:00 AM

Japan's Chubu Elec to buy stake in India's OMC Power

Japan's Chubu Elec to buy stake in India's OMC Power

TOKYO : Japan's Chubu Electric Power Co Inc said on Tuesday it will spend up to 5 billion yen ($39 million) to buy a 20 per cent stake in India's rural renewable energy service company, OMC Power Private Ltd, through a third-party allotment of shares.OMC operates about 280 renewable energy plants to provi

LinkedIn TOKYO : Japan's Chubu Electric Power Co Inc said on Tuesday it will spend up to 5 billion yen ($39 million) to buy a 20 per cent stake in India's rural renewable energy service company, OMC Power Private Ltd, through a third-party allotment of shares.Copy to clipboard https://str.Copy to clipboard https://str.LinkedIn HANOI : Vietnam's industry minister has told the national assembly developing nuclear power is an"inevitable trend" around the world, signalling that authorities may be considering resuming a plan to construct nuclear power plants after the programme was suspended six years ago.

OMC operates about 280 renewable energy plants to provide electricity for telecom companies, small and medium businesses and rural houses via mini-grids, using storage batteries, in the states of Uttar Pradesh and Bihar.It aims to expand its network to 5,000 power plants by 2030, the Japanese company said.For more than a decade, Japanese heavy machinery maker IHI Corp has been developing a subsea turbine that harnesses the energy in deep ocean currents and converts it into a steady and reliable source of electricity.Chubu Electric aims to contribute to OMC, in which Japanese trading house Mitsui & Co also has a stake, by leveraging its operation and maintenance skills for power generation, transmission and distribution, it said.Then you register, and wait for your turn.Last November, the utility said it plans to make strategic investments of 1 trillion yen ($7.Called Kairyu, the 330-ton prototype is designed to be anchored to the sea floor at a depth of 30-50 metres (100-160 feet).8 billion) over the 10 years through 2030, mainly in overseas and renewable energy, to achieve its 2030 recurring profit goal of 250 billion yen.Dien has pledged Vietnam will boost development of renewable energy following a commitment made in November last year to become carbon neutral by 2050, but stressed this week that it still needed a"stable energy source.

($1=127."Ocean currents have an advantage in terms of their accessibility in Japan," said Professor Ken Takagi, an expert on ocean technology policy at the University of Tokyo Graduate School of Frontier Sciences.” Now, replacing what Mr Wu calls “his gear” is a breeze at the company’s new S$3.9500 yen).

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Vietnam floats prospect of resuming nuclear power developmentHANOI : Vietnam's industry minister has told the national assembly developing nuclear power is an 'inevitable trend' around the world, signalling that authorities may be considering resuming a plan to construct nuclear power plants after the programme was suspended six years ago.The Southeast Asian countr

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