Big boost to Atmanirbhar Bharat! 10 bids with capacity ~ 130 Gwh received under PLI scheme for Advanced Chemistry Cell (ACC) Battery Storage - See full list of companies

In a major boost to Prime Minister Narendra Modi's vision of Atmanirbhar Bharat, a total of 10 companies submitted their bids under the Advanced Chemistry Cell (ACC) Battery Storage Programme in India. The Request for Proposal (RFP) for this was released by Ministry of Heavy Industries (MHI) on October 22, 2021. 

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One must note that the manufacturing facility would have to be set up within a period of two years and the incentive will be disbursed thereafter over a period of five years on sale of batteries manufactured in India. The scheme was open for receiving applications till January 14, 2022 until 11 AM. 

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 Rs 18,100 crore. Under the said initiative the emphasis of the Government is to achieve greater domestic value addition, while at the same time ensure that the levelized cost of battery manufacturing in India is globally competitive.

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

The companies who applied for ACC PLI scheme are as follows:

1. Reliance New Energy Solar Limited

2. Hyundai Global Motors Company Limited

3. Ola Electric Mobility Private Limited

4. Lucas-TVS Limited

5. Mahindra & Mahindra Limited

6. Amara Raja Batteries Limited

7. Exide Industries Limited

8. Rajesh Exports Limited

9. Larsen & Toubro Limited

10. India Power Corporation Limited

The program envisages an investment which will boost domestic manufacturing and also facilitate battery storage demand creation for both electric vehicles and stationary storage along with 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) (Rs18,100 crore) along with the already launched PLI Scheme for automotive sector (Rs 25,938 crore) and Faster Adaption 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.