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Reliance New Energy Solar, L-;T, M-;M, Hyundai, Ola among ten bidders under PLI scheme for ACC Battery Storage

17 Jan 2022 , 04:49 PM

A total of 10 companies submitted their bids under the Advanced Chemistry Cell (ACC) Battery Storage Programme in India. The scheme was open for receiving applications till 11:00:00 hours IST on 14th January 2022 and the Technical Bids were opened on 15th January 2022.

These 10 companies are - Reliance New Energy Solar, Hyundai Global Motors Company, Ola Electric Mobility, Lucas-TVS, Mahindra & Mahindra, Amara Raja Batteries, Exide Industries, Rajesh Exports, Larsen & Toubro and India Power Corporation.

These companies bid a total capacity of 130 Gwh under the scheme. Further, the scheme received an encouraging response from local as well as global investors as bids received is 2.6 times the manufacturing capacity to be awarded i.e. 50 Gwh

The Government approved the Production Linked Incentive (PLI) Scheme 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage’ for achieving manufacturing capacity of Fifty (50) Giga Watt Hour (GWh) of ACC for enhancing India’s Manufacturing Capabilities with a budgetary outlay of Rs18,100cr. Under the said initiative the emphasis of the Government is to achieve greater domestic value addition, while at the same time ensuring that the Levelized cost of battery manufacturing in India is globally competitive.

The manufacturing facility would have to be set up within a period of two years. The incentive will be disbursed thereafter over a period of five years on the sale of batteries manufactured in India.

The program is designed in such a manner that it is technology agnostic. The beneficiary firm shall be free to choose suitably advanced technology and the corresponding plant & machinery, raw material and other intermediate goods for setting up a cell manufacturing facility to cater to any application.

The Program envisages an investment that will boost domestic manufacturing & also facilitate battery storage demand creation for both electric vehicles and stationary storage along with the development of a complete domestic supply chain & Foreign Direct Investment in the country. ACC PLI scheme is expected to result in saving to the nation on account of reduction in import of crude oil to a significant extent and increase the share of renewable energy at the national grid level.

This PLI scheme for Advanced Chemistry Cell (ACC) (Rs18,100cr) along with the already launched PLI Scheme for the automotive sector (Rs25,938cr) and Faster Adaption of Manufacturing of Electric Vehicles (FAME) (Rs10,000cr) 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.

Related Tags

  • Advanced Chemistry Cell (ACC) Battery Storage
  • Amara Raja Batteries
  • Exide Industries
  • Hyundai Global Motors Company
  • India Power Corporation
  • Larsen & Toubro
  • Lucas-TVS
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