ACC Battery Storage PLI: Reliance Unit, Mahindra, L&T Among 10 Bidders
10 companies submitted bids under the PLI scheme for advanced chemistry cell battery storage.
Reliance Industries Ltd.'s subsidiary, Mahindra & Mahindra Ltd. and Larsen & Toubro Ltd. are among 10 bidders for production-linked incentives worth Rs 18,000 crore for advanced chemistry cell battery storage.
A total of 10 bids with a capacity of 130 gigawatt hours were received till Jan. 14, and the technical bids were opened on Jan. 15, the ministry said. "The scheme received an encouraging response from local as well as global investors as bids received is 2.6 times the manufacturing capacity to be awarded i.e. 50 Gwh (gigawatt hours)."
Here's the list of companies that have applied for the PLI scheme:
Reliance New Energy Solar Ltd.
Hyundai Global Motors Co.
Ola Electric Mobility Pvt.
Lucas-TVS Ltd.
Mahindra & Mahindra Ltd.
Amara Raja Batteries Ltd.
Exide Industries Ltd.
Rajesh Exports Ltd.
Larsen & Toubro Ltd.
India Power Corp.
The government approved an outlay of Rs 18,100 crore under the PLI scheme for advanced chemistry cell battery storage manufacturing capacity of 50 Gwh.
Under the scheme, the manufacturing facility will have to be set up within two years and incentives will be disbursed over five years on the sale of batteries made in India.
"The emphasis of the government is to achieve greater domestic value addition, while at the same time ensure that the levelised cost of battery manufacturing in India is globally competitive," the statement said.
The programme is technology-agnostic and the beneficiary firm is free to choose suitable advanced technology and the corresponding plant and machinery, raw material and other intermediate goods, it said.