In news- The Cabinet approved the proposal for implementation of the Production Linked Incentive (PLI) Scheme ‘National Programme on Advanced Chemistry Cell (ACC) Battery Storage’.
About the programme-
- It was a proposal of the Department of Heavy Industries.
- It aims at achieving a manufacturing capacity of 50 GigaWatt Hour (GWh) of ACC and 5 GWh of “Niche” ACC with an outlay of Rs.18,100 crore.
- 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.
- The consumer electronics, electric vehicles, advanced electricity grids, solar rooftop etc… are major battery consuming sectors.
- All the demand of the ACCs is currently being met through imports in India.
- ACC battery Storage manufacturers will be selected through a transparent competitive bidding process.
- The manufacturing facility would have to be commissioned within a period of two years.
- The incentive will be disbursed thereafter over a period of five years.
- Each selected ACC battery storage manufacturer would have to commit to set up an ACC manufacturing facility of minimum 5GWh capacity and ensure a minimum 60% domestic value addition at the project level within five years.
- The scheme will help in net savings of ₹2 trillion to ₹2.5 trillion during the programme period by reducing the oil import bill, given the proposed shift to electric vehicles.
Source: PIB
