Rockefeller Foundation, OMC Power ink $4.5-million deal – Feedback

US-based philanthropic organisation Rockefeller Foundation and OMC Power have inked a $4.5-million deal to finance OMC Power’s construction and retrofitting of 100 solar power plants with mini-grids in rural Uttar Pradesh.

“The financial arrangement is part of the foundation’s Smart Power for Rural Development (SPRD) initiative aimed to provide reliable electricity to 1,000 villages and promote rural economic development,” a joint press release by Rockefeller Foundation and OMC Power said. A mini-grid is a decentralised power distribution infrastructure. Renewable energy producing companies deploy mini-grids to provide electricity to rural villages where power access is either unavailable or inadequately available.

http://economictimes.indiatimes.com/industry/energy/power/rockefeller-foundation-omc-power-ink-4-5-million-deal/articleshow/51313871.cms

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