According to a government announcement on Friday, the three companies that have signed the Program Agreement under the (PLI) Scheme for Advanced Chemistry Cell (ACC) Battery Storage are Rajesh Exports Limited, Ola Electric Mobility Private Limited, and Reliance Industries Ltd.’s (RIL) New Energy arm.
Under India’s 18,100 crore initiative, these businesses will receive incentives. Private operators are anticipated to develop battery manufacturing capacity to the tune of 95 GWh in addition to the capacities allotted by the Ministry of Heavy Industries under the PLI Program. The companies were among the four bidders chosen by the government in March for a production-linked incentive scheme to install a total of 50 gigawatt hours (Gwh) of battery storage capacity.
Under the ACC Battery Storage PLI Scheme, 10 offers from businesses with a 128 GWh manufacturing capacity were received in total. The manufacturing facility would need to be established within two years in order to participate in the ACC PLI programme. Following that, over a five-year period, the incentive will be paid out on the sale of batteries made in India.
The National Programme on Advanced Chemistry Cell (ACC) Battery Storage’s Production Linked Incentive (PLI) Scheme, with a budgetary outlay of Rs. 18,100 crores, has been approved by the government to achieve a manufacturing capacity of Fifty (50) Giga Watt Hour (GWh) of ACC for enhancing India’s manufacturing capabilities.
The government is focusing on increasing domestic value addition under the aforementioned plan, while also making sure that India’s levelized cost of battery production is competitive on a global scale.
For the purpose of setting up a cell manufacturing facility to accommodate any application, the beneficiary firm under the programme should be free to select the appropriate advanced technology and the corresponding plant & machinery, raw materials, and other intermediate items.
According to a press release from the government, “This PLI scheme for Advanced Chemistry Cell (ACC) (18,100 crore) along with the already launched PLI Scheme for the automotive sector (25,938 crore) and Faster Adoption of Manufacturing of Electric Vehicles (FAME) (10,000 crore) will enable India to leapfrog from traditional fossil fuel-based automobile transportation system to environmentally cleaner, sustainable, advanced, and more efficient Electric Vehicles (EV) based system.
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