News Brief
Reliance, Mahindra Among Major Players Join Pre-Bid Meeting For 10 GWh Battery Manufacturing Facilities Under PLI Scheme
New battery manufacturing push. (Representative image)
Reliance, Mahindra, JSW and TVS Lucas were among 18 companies that attended a pre-bid meeting for establishing 10 GWh battery manufacturing facilities under the Production Linked Incentive (PLI) scheme, as per a report by The Economic Times.
In this round, incentives worth approximately Rs 3,620 crore are up for grabs.
According to an official statement, 45 representatives from these 18 companies participated in the pre-bid discussions.
The deadline for submitting bids is 22 April 2024.
"The pre-bid meeting was held in preparation for the upcoming global tender for the establishment of giga-scale Advanced Chemistry Cell (ACC) manufacturing facilities, totaling 10 GWh capacity," the statement added.
The government is supporting the manufacturing of technology-agnostic ACCs in the country, in line with its commitment to promoting innovation and self-reliance in the renewable energy sector.
In 2022, the government awarded PLI support for the establishment of 30 GWh of ACC battery manufacturing capacity by 2030.
Ola Cell Technologies secured the largest share with 20 GWh capacity. ACC Energy Storage (bid as Rajesh Exports) and Reliance New Energy Battery Storage were awarded incentives for 5 GWh each.
The government expects that PLI incentives will assist these three players in establishing GWh of battery manufacturing capacity.
The 10 GWh PLI capacity being re-tendered is part of the 20 GW initially allocated to Hyundai Global Motors, a company alleged to be impersonating the South Korean firm Hyundai Motor Company.
Another 10 GWh of this released capacity is designated for stationary applications of batteries, such as solar power and grid balancing.
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