Today News Online Service
New Delhi, May 12
The government on Wednesday gave its nod to a scheme of Production Linked Incentive (PLI) worth Rs 18,100 crore for manufacturing of battery storage equipment with an aim to attract investment worth Rs 45,000 crore in the sector
The Scheme — ‘National Programme on Advanced Chemistry Cell (ACC) Battery Storage’ — is expected to facilitate and achieve manufacturing capacity of 50 GW of ACC and 5 GWh of “Niche” ACC.
ACCs are the new generation of advanced storage technologies that can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and when required.
All the demand of the ACCs is currently being met through imports in India, said Union Minister Prakash Javadekar, while briefing media after the meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. The National Programme on Advanced Chemistry Cell (ACC) Battery Storage will reduce import dependence, he added.
“The decision will promote Make in India initiative, open up possibilities for startups, create jobs, benefit various sectors such as railways, shipping and help India become self-reliant,” the minister said.
The consumer electronics, electric vehicles, advanced electricity grids, solar rooftop etc. which are major battery consuming sectors are expected to achieve robust growth in the coming years. It is expected the dominant battery technologies will control some of the world’s largest growth sectors.
Javadekar said, ACC battery storage manufacturers would be selected through a transparent competitive bidding process. The manufacturing facility would have to be commissioned within two years and the incentive would be disbursed thereafter over a period of five years, he added.
AIMS 50 GW storage
- The proposal aims to achieve manufacturing of 50 GW of battery storage
- The policy aims to make manufacturers globally competitive, boost exports, achieve economies of scale and produce cutting-edge products
- ACCs can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and when required