Honda Motor invests in OMC Power; picks up minority stake

Japanese auto major Honda Motor Co Ltd has picked up a minority stake, in the range of 5-10 per cent, in homegrown OMC Power, which is in the process of building up 1 gigawatt (GW) renewable energy portfolio in India, according to industry sources. The investment has come at a time when OMC Power is entering into a new business vertical where the company will deploy electric vehicle (EV) batteries as battery energy storage system (BESS) solution, and re-purpose the old EV batteries to support with UPS (unin ...