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Govt receives 4 bids for Advanced Chemistry Cell manufacturing PLI scheme
Photo Courtesy: Unsplash

Govt receives 4 bids for Advanced Chemistry Cell manufacturing PLI scheme

| @indiablooms | 24 Apr 2024, 12:43 am

New Delhi: The Ministry of Heavy Industries (MHI) has received seven bids for its Production Linked Incentives (PLI) scheme for Advanced Chemistry Cell (ACC) manufacturing.

These bids reflect an overwhelming response from the industry as they total seven times the intended manufacturing capacity of 10 GWh.

The list of bidders includes notable names such as Amara Raja Advanced Cell Tech, Reliance Industries, JSW Neo Energy, Lucas TVS, Waaree Energies, ACME Cleantech Solutions, and Anvi Power Industries. Together, these bidders are vying for a cumulative capacity of 70 GWh.

Earlier in January, MHI had issued a Request for Proposal (RfP) to shortlist and select bidders for setting up ACC Manufacturing Units under the PLI Scheme.

The scheme aimed to allocate a total manufacturing capacity of 10 GWh, with a budgetary outlay of Rs 3,620 crore.

Advanced Chemistry Cells (ACCs) are advanced electrochemical energy storage cells known for their high capacity and efficiency with applications in various sectors, including electric vehicles, renewable energy storage, consumer electronics, and power backup systems.

The Advanced Chemistry Cell (ACC) manufacturing plan is designed to bolster India's ecosystem for electric mobility and battery storage.

In May 2021, the Cabinet endorsed the technology-agnostic PLI Scheme under the 'National Programme on ACC Battery Storage' with the goal of establishing a manufacturing capacity of 50 GWh for ACC, backed by an outlay of Rs 18,100 crore.

The approach allows for flexibility and encourages innovation, as companies are free to adopt the most suitable and efficient technologies for ACC manufacturing according to their capabilities and market demands.

The initial round of ACC PLI bidding ended in March 2022 and three companies were allocated a total capacity of 30 GWh.

Subsequently, program agreements with the selected companies were formalized in July 2022.

The Confederation of Indian Industry projected significant growth in the demand for advanced chemistry batteries in India, estimating an increase from 20 GWh in 2022 to approximately 220 GWh by 2030.

This growth trajectory, expected to advance at a compound annual growth rate of around 50%, is attributed to the flourishing domestic battery manufacturing sector and a resilient local supply chain.

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