Reliance Industries, JSW Neo Energy, Amara Raja, Lucas TVS are among seven companies that have bid for Production Linked Incentive that government plans provide for manufacturing of 10 gigawatt hour (Gwh) Advanced Chemistry Cell Battery Storage.
Others who have shown interest in setting up advanced electric power storage capacity under the PLI scheme are Anvi Power Industries, Acme Cleantech and Waaree Energies, according to a statement by the ministry of heavy industries.
The bids for setting up 10 Gwh capacity were invited from 24th January this year. The last day of application was 22nd April 2024 and technical bids were opened on 23rd April 2024.
The 10Gwh ACC capacity is leftover from the 50 Gwh capacity that was to be set up under PLI when the scheme was first announced in 2021 with an outlay of Rs 18.100 crore. The first round of the ACC PLI bidding was concluded in March 2022.
In March 2022 after a bidding process the selected 4 companies for incentives including Reliance New Energy Solar Limited; Ola Electric Mobility Private Limited; Hyundai Global Motors Company Limited and Rajesh Exports Limited.
By August 2022, Hyundai pulled out of the scheme when Hyundai of Korea clarified that it had nothing to do with Hyundai Global.
In the first round of bids Ola, Hyundai Global were awarded capacity of 20 GWh, and Rajesh Exports and Reliance were awarded 5 GWh. With the pull out of Hyundai 20 GWh was again made available for bidding.
The government then decided to split the 20 Gwh equally between battery storage for the power grid and for mobility and other uses.
The 10 Gwh capacity for which bids have come has been provided an outlay of Rs 3,620 crore for incentives.
