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.
New Delhi, May 12 (PTI): 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.
Govt approves Rs 18,100 cr PLI scheme for promoting ACC battery manufacturing
SECTIONS
Last Updated: May 12, 2021, 04:16 PM IST
Share
Synopsis
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.
Agencies
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.
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
×
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.
Epsilon Carbon plans expansion into Europe, US markets
May 12, 2021
Vikram Handa, Managing Director of Epsilon Carbon×
Joint venture with Beowulf Mining first of many such partnerships, says Vikram Handa
Manufacturer of coal tar derivatives Epsilon Carbon is looking to expand into the European and American markets by supplying gigafactories with locally-sourced anode material.
To start with, the company has signed an MoU with Beowulf Mining plc to establish a joint venture company in Finland. According to the agreement, Epsilon and Beowulf will jointly develop a strategic processing hub for both natural flake and recycled graphite in Finland.
“We are aiming to finish our feasibility report by this year-end,” said Vikram Handa, Managing Director of Epsilon Carbon Pvt Ltd. “After which we will set up a facility generating 10,000 tonnes of anode material every year.”