Solar energy service provider SunEdison has joined hands with Omnigrid Micropower (OMCPower) Company Pvt Ltd, to develop 5,000 rural solar projects of 250 mw capacity across the country over the next three to five years.
"While 1GW of coal power plant can take three to four years to develop, nuclear power of similar capacity can take five to 10 years, solar photovoltaic power can be developed less than a year", SunEdison, President and CEO, Ahmad Chatila said in a statement.
He said around 400 million people in India have no access to electricity and the only option for them was expensive fossil-fuel based solutions.
SunEdison and OMC Power partnership leverages the expertise of each company, including technical knowhow, local and telecom knowledge from OMC and project development and financing expertise from SunEdison.
"Our agreement with SunEdison is a huge step forward both for our company and for the people of rural India", OMC Power Co-Founder, Anil Raj said.
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