To promote manufacturing and export of Advanced Chemistry Cell Batteries and their storage facilities, India approved the Rs 18,000 crore incentive PLI scheme.
India on Wednesday approved a production-linked incentive (PLI) scheme with an outlay of ₹18,000 crores to promote manufacturing, export and storage of lithium-ion cells, essential for developing electric vehicles. It is the first major push to build capacity in core component technology and will make India a global hub of clean energy.
The India Cellular and Electronics Association (ICEA) said in its statement, “The PLI will also cut import dependence on China and increase local value addition in mobiles, electronics, automobile (EV) and the solar industry.”
These batteries are the new generation of advanced storage technologies which store electric energy as electrochemical and convert it back to electric energy as and when required.
The government expects the scheme to attract an investment of Rs 45,000 crore and achieve a manufacturing capacity of 50 GWh of ACC and 5 GWh of “Niche” ACC.
Currently, all the demand for the ACCs is being met through imports in India. ICEA forecasts that the total market for Li-ion batteries in India is set to reach 135 GWh by 2025. Of this 100 GWh will cater to EVs and solar products alone while mobile phones and power banks will consume another 18 GWh.
As per the government’s announcement, ACC battery storage manufacturers will be selected through a transparent competitive bidding process. The manufacturing facility would have to be commissioned within two years. The incentive will be disbursed thereafter over five years.
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