Honda Drives Green: Stakes Rise With OMC Power Partnership

Honda Motor Co Ltd has acquired a 5-10% stake in India's OMC Power to boost its 1GW renewable energy efforts. This collaboration marks Honda's first investment in a distributed energy platform in India, focusing on new verticals with EV battery deployments and green energy advancements.

Japanese automotive giant Honda Motor Co Ltd has ventured into India's renewable energy sector by acquiring a 5-10% stake in OMC Power, sources reveal. This move supports OMC Power's ambitious plan to develop a 1GW renewable energy portfolio.

OMC Power's new business strategy involves integrating electric vehicle (EV) batteries into their battery energy storage system (BESS), repurposing used EV batteries for uninterrupted power supply applications. The partnership with Honda follows years of collaboration and mutual interest.

With Honda's technical prowess aiding the venture, OMC Power aims to expand its presence in rooftop solarization, telecom, rural areas, and MSME and C&I sectors, primarily targeting states such as Uttar Pradesh, Uttarakhand, and the northeastern regions.

(With inputs from agencies.)