Chief Executive Officer and Co-Founder
Location: Gurgaon, India
Number of employees: 80
Year founded: 2011
406A Centrum Plaza Golf Course Road, 4th Floor
122 001 Gurgaon
In rural India, 400 million people live and work without electricity in villages which are not – and never will be – on the grid. OMC is pioneering large-scale rural electrification by building micropower plants, mostly using solar energy, in these areas.
Electricity transforms rural communities. OMC enables local entrepreneurs to rent out LED lanterns and portable PowerBoxes for lights, fans, mobile phones, and so on. While the customers are poor, they can afford it by switching their spending away from dirtier and less convenient forms of fuel such as kerosene for lighting. Sales to rural households are growing strongly and are on course to account for 80% of OMC’s revenue by next year.
The rest of the revenue comes from long-term contracts with telecom companies to power their towers in rural areas, about 150,000 of which are off-grid. By enabling OMC to borrow against the upfront cost of installing the infrastructure, this guaranteed revenue stream is what makes it possible to operate micropower at an unprecedented scale.
The company currently has 11 micropower plants, with around 20,000 active customers. Over the next three years, OMC plans to roll out at least 4,000 additional plants, bringing cleaner power to more than 8 million rural Indians.
As solar is projected to become cheaper than fossil fuels in 2014, OMC envisages that its business model will epitomize a wider global shift towards distributed electricity generation. Even where grids exist, future development will increasingly focus on micropower using the renewable resources available in local communities.