RIL arm, Ola Electric, Rajesh Exports ink pacts under PLI battery storage scheme

This will also help us to achieve Indias commitment to Panchamrit given by PM Modi ji in COP 26, he added.A total of 10 bids were received from companies with manufacturing capacity of 128 GWh under the PLI Scheme of ACC Battery Storage.Under the ACC PLI programme, the manufacturing facility would have to be set up within a period of two years.

Three selected bidders, including Reliance New Energy, have signed agreements under the Rs 18,100 crore production linked incentive scheme for advanced chemistry cell battery storage, the government said on Friday.

Private players are expected to create battery manufacturing capacity of 95 GWh in addition to the capacities allocated under the PLI programme by the Heavy Industry Ministry.

Three selected bidders, Reliance New Energy, Ola Electric Mobility and Rajesh Exports, signed the program agreement under Production Linked Incentive Scheme for Advanced Chemistry Cell Battery Storage here on 28th July 2022, the Heavy Industry Ministry said.

Minister for Heavy Industries Mahendra Nath Pandey said this embarks a new chapter in India's manufacturing industry as we set the vision for battery manufacturing and compete globally with other nations in this sunrise sector.

''This will be favorable to EV ecosystem and energy storage market as it will support the demand for EVs and renewable and attract investment in this sector.

''Today big companies are investing in battery manufacturing in India. We should support them and make India a truly global manufacturing hub. This will also help us to achieve India's commitment to Panchamrit given by PM Modi ji in COP 26,'' he added.

A total of 10 bids were received from companies with manufacturing capacity of 128 GWh under the PLI Scheme of ACC Battery Storage.

Under the ACC PLI programme, 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 sale of batteries manufactured in India.

The government has approved the Production Linked Incentive Scheme 'National Programme on Advanced Chemistry Cell Battery Storage' for achieving manufacturing capacity of 50 Giga Watt Hour (GWh) of ACC for enhancing India's manufacturing capabilities with a budgetary outlay of Rs 18,100 crore.

This PLI scheme for Advanced Chemistry Cell (ACC) (Rs 18,100 crore) along with the already launched PLI Scheme for automotive sector (Rs 25,938 crore) and Faster Adoption of Manufacturing of Electric Vehicles (FAME) (Rs 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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