OMC Power enters EV battery repurposing business in partnership with Honda Motors Japan

Core Insights - OMC Power is pioneering the repurposing of EV batteries in India, aiming to utilize their substantial second life for energy storage solutions in various market segments [6] - The company has partnered with Honda Motor Co. Ltd, which will supply used EV batteries for repurposing for seven years after three years of usage [3][6] - OMC Power is investing Rs 4,000 crore to develop a renewable energy portfolio of 1 GWp by 2030, with a significant portion coming from rooftop solarisation [6] Company Initiatives - The CEO of OMC Power highlighted the company's focus on repurposing EV batteries for home and commercial use, particularly in uninterrupted power supply (UPS) applications [6] - Initial pilot projects have shown positive customer experiences, including a recent project at a school in Hardoi, Uttar Pradesh, which involved a solar rooftop installation [5][6] - The company expects Honda to produce 6 million EV batteries annually, which will be available for repurposing in the coming years [5][6] Market Context - The repurposing of EV batteries is a new application area in India, addressing growing concerns about the future of EV batteries [6] - OMC Power's initiatives include rooftop solarisation, EPC, greening telecom infrastructure, and mini-grid development, indicating a diverse approach to renewable energy solutions [6]