The government on Thursday (24 August) said that the beneficiaries of its Rs 18,100 crore production-linked incentive (PLI) scheme for Advance Chemistry Cell (ACC) storage will start the commercial production of the batteries in phases, starting from the financial year 2023-24.
The Ministry of Heavy Industries has awarded to build a capacity of 30 Gigawatt-Hours (GWh) to three beneficiaries, namely, Ola Cell Technologies Pvt Ltd, ACC Energy Storage Pvt Ltd and Reliance New Energy Battery Storage Ltd.
ACC Energy Storage is a fully owned subsidiary of Rajesh Exports that has been formed for the execution of the 5 GWh project for manufacturing advanced chemistry lithium-ion cells for making battery packs for EVs and energy storage.
The Ministry of Heavy Industries is also in the process to award another 20 GWh, with a target to achieve 50 GWh production by 2030.
Further, to monitor the progress of work of the selected beneficiaries, the ministry has appointed Engineers India Limited (EIL) as Independent Engineers, according to an official release.
"The prototype testing is almost complete by these beneficiaries and commercial production is likely to start progressively in phases, in FY 2024," the Ministry said in a release on Thursday (24 August).
According to the ministry, in line with the scheme's vision to ensure domestic value addition, the technology for the Advanced Chemistry Cells is being developed by all three beneficiaries, which is in advanced stages of development.
"The total investment till date by these beneficiary organisations has reached up to Rs 2,090 crore," the ministry said.
Ola Cell Technologies is setting up its manufacturing facility in Krishnagiri, Tamil Nadu, whereas ACC Energy Storage is setting up its facility in Dharwad, Karnataka and Reliance New Energy Battery Storage is setting up facility in Jamnagar, Gujarat, generating employment opportunities for the local residents.
Reliance New Energy Limited has also reported to have acquired three overseas companies which are into ACC manufacturing business, the ministry said.
It should be noted that the the Ministry of Heavy Industries ahd launched the PLI for ACC Battery Storage in June 2021 for setting up of Giga-scale ACC manufacturing facilities in India with a budgetary outlay of Rs 18,100cCrore.
The scheme aims to strengthen the ecosystem for Electric Mobility and Battery Storage in the country and aims to add to Atmanirbhar Bharat initiative.
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