Three companies sign programme agreement under PLI scheme for ACC battery storage

A programme agreement under production linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage was signed by Reliance New Energy Limited, Ola Electric Mobility Private Limited, and Rajesh Exports Limited.

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 will need to be established within two years. Following that, over a five-year period, the incentives will be paid out on the sale of batteries produced in India. In addition to the capacities given by the Ministry of Heavy Industries under the PLI scheme, private companies are projected to build 95 GWh of battery manufacturing capacity. With a budgetary outlay of Rs 181 billion, the government has approved the PLI scheme “National Programme on Advanced Chemistry Cell Battery Storage” in order to achieve a manufacturing capacity of 50 GWh of ACC for enhancing India’s manufacturing capabilities. The government’s emphasis under the aforementioned initiative is to achieve greater domestic value addition while also ensuring that the levelised cost of battery manufacturing in India is globally competitive.