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Reliance, Ola, L&T among 10 bidders for govt's PLI scheme for batteries

Reliance, Ola, L&T among 10 bidders for govt's PLI scheme for batteries

The government has approved the PLI scheme, 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage', for achieving manufacturing capacity of 50 GWh of ACC.

The ministry had released the Request for Proposal (RFP) for the PLI scheme on October 22, 2021. The ministry had released the Request for Proposal (RFP) for the PLI scheme on October 22, 2021.

The government has received bids from 10 companies, including Reliance, Ola and Larsen & Toubro (L&T), under its production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage programme, the Ministry of Heavy Industries said on Saturday.

The 10 companies have submitted bids under the Rs 18,100-crore scheme for setting up about 130 GWh of capacity. Reliance New Energy Solar Limited; Hyundai Global Motors Company Limited; Ola Electric Mobility Private Limited; Lucas-TVS Limited; Mahindra & Mahindra Limited; Amara Raja Batteries Limited; Exide Industries Limited; Rajesh Exports Limited; Larsen & Toubro Limited and India Power Corporation Limited are the companies which have applied for the scheme.

The ministry had released the Request for Proposal (RFP) for the PLI scheme on October 22, 2021. The scheme was open for receiving applications till 11:00 am on January 14, 2022 and the technical bids were opened on January 15, 2022.

The government had approved the PLI scheme, 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage', for achieving manufacturing capacity of 50 GWh of ACC in order to enhance the country's manufacturing capabilities.

"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," a statement from the ministry said.

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

The manufacturing facility would have to be set up within a period of two years. The incentives will be disbursed thereafter over a period of five years on sale of batteries manufactured in India.

The ACC PLI scheme is expected to result in saving the government money 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.

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