Honda Motor acquires minority stake in OMC Power.

Japanese auto giant Honda Motor Co Ltd has acquired a 5–10% minority stake in India’s OMC Power, a renewable energy firm developing a 1 gigawatt (GW) clean energy portfolio across the country, according to industry sources.

The investment comes as OMC Power expands into a new business segment that focuses on deploying electric vehicle (EV) batteries as battery energy storage systems (BESS). The company also plans to repurpose used EV batteries for applications like uninterrupted power supply (UPS) and inverter systems.

Sources indicated that Honda’s initial investment could be the beginning of a longer-term partnership, with the company likely to increase its stake in OMC Power as the renewable portfolio grows.