Allotment made for 50 GWh of battery capacity to 4 successful bidders for the incentive under (PLI) Scheme for Advanced Chemistry Cell (ACC) Battery Storage.
The manufacturing facility is excepted to set up in next 2 years Incentive to be disbursed on sale of batteries manufactured in India.
Direct investment of around ₹ 45,000 crores in ACC Battery storage manufacturing projects.
India is spending a lot of amount on importing oils with this project India can nearly save 2,00,00 to 2,50,000 crore.
Incentive structure’s main aim is to promote industry fresh investments in supply chain/ deep localization for battery manufacturing in the country.
PLI scheme for Automobile and auto components (₹ 25,938 crores) and PLI for ACC (₹ 18,100 crores) along with FAME Scheme (₹ 10,000 crores) to enable India to be environmentally cleaner, sustainable, advanced, and more efficient Electric Vehicles (EV)based system.
As on the recent update, we can see that 4 companies are selected for incentive Under Production Linked incentive(PLI) scheme for Advanced Chemistry Cell (ACC) Battery Storage. this includes a few companies like Reliance New energy solar limited, Ola Electric Mobility Private Limited; Hyundai Global Motors Company Limited and Rajesh Exports Limited. the list of the companies will receive incentives under India’s ₹ 18,100 crore program to boost local battery cell production in India.
PLI Scheme for ACC Battery Storage, Union Cabinet Minister for Heavy Industries Dr. Mahindra Nath Pandey said that “today, the increase in demand for EVs due to a favorable regulatory framework and mainly many of showing interest and attracted to invest in this sector, many of the top companies are investing in electric vehicle manufacturing in shows interest towards us.
Giving more encouragement and keep trying to make India a manufacturing hub. Fast grow in Ev segment of automobile industry there is a scope of getting hug employment to youth.
many of the companies submitted bids on Advanced Chemistry Cell (ACC) Battery Storage Programmed in India for which Request for Proposal (RFP) released by Ministry of Heavy Industries (MHI) on 22nd October 2021 on that 9 companies found eligible and meeting the conditions of eligibility as per the requirements under the RFP
Final evaluation of the Selected Bidders was carried out as per Quality & Cost Based Selection (QCBS) and bidders were ranked based on their both financial and technical. The ACC capacities have been allocated in order of their rank, till a cumulative capacity of 50 GWh per year.
Shortlisted Bidders that are not successful in securing allocation are placed under a waiting list.
The manufacturing facility will be set up within 2 years period, and the incentive will be disbursed over a period of five years on sale of batteries manufactured in India.