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RIL, JSW Neo, Amara Raja bid for ACC batteries: PLI

ACC refers to high-capacity and high-efficiency electrochemical energy storage cells used in various applications, primarily where battery storage is crucial.
Last Updated : 23 April 2024, 21:50 IST
Last Updated : 23 April 2024, 21:50 IST

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Seven companies including Reliance Industries, JSW Neo Energy, Amara Raja and Anvi Power Industries, have submitted bids for availing government incentives under the Production Linked Incentives (PLI) for manufacturing of advanced chemistry cells (ACC) batteries, the Ministry of Heavy Industries said on Tuesday.

The seven firms have collectively applied for a cumulative capacity of 70 Giga Watt hours (GWh) of ACC batteries against the proposal invited for 10 GWh with a maximum budgetary outlay of Rs 3,620 crore.

The list of bidders who have submitted bids in response to this tender are ACME Cleantech Solutions Private Limited, Amara Raja Advanced Cell Technologies Private Limited, Anvi Power Industries Private Limited, JSW Neo Energy Limited, Reliance Industries Limited, Lucas TVS Limited, and Waaree Energies Limited for a cumulative capacity of 70 GWh, the Ministry of Heavy Industries said in a statement.

In 2022, the government awarded PLI support to establish 30 GWh of ACC battery manufacturing capacity by 2030. Out of this Ola Cell Technologies secured the majority share with a 20 GWh capacity. ACC Energy Storage (bid as Rajesh Exports) and Reliance New Energy Battery Storage were granted PLI incentives for 5 GWh each.

The PLI scheme for manufacturing of ACC batteries was approved by the union cabinet in May 2021. Total incentive outlay under the scheme has been pegged at Rs 18,100 crore for achieving manufacturing capacity of 50 GWh of ACC.

ACC refers to high-capacity and high-efficiency electrochemical energy storage cells used in various applications, primarily where battery storage is crucial. Electric vehicles, renewable energy storage, consumer electronics, power backup are among the key uses of ACC.

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Published 23 April 2024, 21:50 IST

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