Each selected ACC battery Storage manufacturer would have to commit to set-up an ACC manufacturing facility of a minimum of five (5) GWh capacity
More than 100 participants, spanning across 20 companies, have shown interest in participating under the ACC Battery production linked incentive (PLI)scheme. A report by United News of India notes that the Ministry of Heavy Industries (MHI) had organised a pre-bid conference on 12 November 2021. The same was attended by interested bidders.
Under the PLI scheme, the government hopes to achieve direct investment of around Rs 45,000 crore in ACC battery manufacturing. It is also targeting import substitution of around Rs.20,000 crore every year, in accordance with the ‘Atmanirbhar Bharat’ initiative to put greater emphasis upon domestic value-capture.
Each selected ACC battery Storage manufacturer would have to commit to set-up an ACC manufacturing facility of a minimum of five (5) GWh capacity and ensure a minimum of 60 per cent domestic value addition at the project level within five years, the statement added.
Furthermore, the beneficiary firms have to achieve a domestic value addition of at least 25 per cent and incur the mandatory investment of Rs 225 crore /GWh within 2 Years (at the Mother Unit Level) and raise it to 60 per cent domestic value addition within 5 Years, either at Mother Unit, in-case of an Integrated Unit, or at the Project Level, in-case of “Hub & Spoke” structure.
Each selected ACC battery Storage manufacturer would have to commit to set-up an ACC manufacturing facility of a minimum of five (5) GWh capacity and ensure a minimum of 60 per cent domestic value addition at the project level within five years, the statement added.
Furthermore, the beneficiary firms have to achieve a domestic value addition of atleast 25 per cent and incur the mandatory investment of Rs 225 crore /GWh within 2 Years (at the Mother Unit Level) and raise it to 60 per cent domestic value addition within 5 Years, either at Mother Unit, in-case of an Integrated Unit, or at the Project Level, in-case of “Hub & Spoke” structure.
“ACCs are the new generation of advanced storage technologies that can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and when required. The consumer electronics, electric vehicles, advanced electricity grids, solar rooftop etc. which are major battery consuming sectors are expected to achieve robust growth in the coming years,” the Cabinet had said in a statement.
