Govt approves ₹18,100 crore PLI scheme for promoting ACC battery manufacturing
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AAA The government on Wednesday approved the Production Linked Incentive (PLI) scheme for promoting battery storage at an estimated outlay of ₹18,100 crore.
With the objective to promote the Make in India initiative, National Programme on Advanced Chemistry Cell (ACC) Battery Storage is expected to attract investment of ₹45,000 crore, Information and Broadcasting Minister Prakash Javadekar told reporters after the Cabinet meeting.
The proposal aims to achieve a manufacturing capacity of 50 Gigawatt Hour of ACC and 5 GWh of niche ACC, he said.
It will promote green growth and use local products like copper and bauxite to a large extent, he added.
Govt approves Rs 18,100 cr PLI scheme for promoting ACC battery manufacturing
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Last Updated: May 12, 2021, 04:16 PM IST
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The proposal aims to achieve a manufacturing capacity of 50 Gigawatt Hour of ACC and 5 GWh of niche ACC, Information and Broadcasting Minister Prakash Javadekar told reporters after Cabinet meeting today.
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It is expected to promote green growth and use local products like copper and bauxite
The government on Wednesday approved the Production Linked Incentive (PLI) scheme for promoting battery storage at an estimated outlay of Rs 18,100 crore.
With the objective to promote the Make in India initiative, National Programme on Advanced Chemistry Cell (ACC) Battery Storage is expected to attract investment of Rs 45,000 crore, Information and Broadcasting Minister Prakash Javadekar told reporters after the Cabinet meeting.
Cabinet approves Rs 18,000 cr PLI scheme for ACC batteries
By IANS |
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New Delhi, May 12 : The Union Cabinet has approved Production Linked Incentive (PLI) scheme, National Programme on Advanced Chemistry Cell (ACC) Battery Storage for achieving manufacturing capacity of 50 Giga Watt Hour (GWh) of ACC and 5 GWh of niche ACC, at 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 among others, which are major battery consuming sectors, are expected to achieve robust growth in the coming years.
Centre approves Rs 18,000 cr PLI scheme for ACC batteries - To boost production in the country, an investment of Rs 45,000 cr will be made in it. Those investing in it will get an incentive of Rs 16,000 crore.
Battery storage tech: Cabinet green lights ₹18,100-cr PLI scheme
May 12, 2021
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The plan is to achieve Advanced Chemistry Cell manufacturing capacity of 50GWh and niche ACC capacity of 5GWh
The Union Cabinet on Wednesday approved an ₹18,100-crore Production-Linked Incentive (PLI) scheme for battery storage. The National Programme on Advanced Chemistry Cell (ACC) Battery Storage aims to achieve ACC manufacturing capacity of 50GWh and niche ACC capacity of 5GWh.
“All the demand of the ACCs is currently being met through imports. The National Programme on Advanced Chemistry Cell (ACC) Battery Storage will reduce import dependence. It will also support the ‘Atmanirbhar Bharat’ initiative,” an official release said after the Cabinet meeting.