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Trust among 10 bidders for the government’s PLI scheme for batteries, Ora, L & T

According to the Ministry of Heavy Industry, the government has received bids from 10 companies, including Reliance, Ora, and Larsen & Tubro (L & T), under the Production Linked Incentive (PLI) scheme for Advanced Chemical Cell (ACC) battery storage programs. ..

The 10 companies submitted bids under a scheme of Rs 18,100 to set a capacity of about 130 GWh. Reliance New Energy Solar Limited; Hyundai Global Motors Company Limited; Ora Electric Mobility Private Limited; Lucas-TVS Limited; Mahindra & Mahindra Limited; Amara Raja Battery Limited; Exide Industries Limited; Rajesh Exports Limited; Larsen & Toubro Limited and this scheme It is the company that applied for.

The ministry published a request for proposal (RFP) for the PLI scheme on October 22, 2021. The scheme was accepted until 11:00 am on January 14, 2022, and technical bidding began on January 15, 2022.

The government has approved the PLI scheme “National Program on Advanced Chemical Cell (ACC) Battery Storage” to achieve ACC’s 50 GWh manufacturing capacity to enhance the country’s manufacturing capacity.

“Under the initiative, the government’s focus is to increase domestic value-added while at the same time making India’s levelized cost of battery production globally competitive, according to a statement from the ministry. “.

He added that the program was designed to be technology agnostic. Beneficiaries are free to choose the appropriate advanced technology and corresponding plants and machinery, raw materials and other intermediate goods to set up cell manufacturing facilities for all applications.

The manufacturing facility must be installed within 2 years. After that, an incentive will be paid for the sale of batteries manufactured in India for 5 years.

The ACC PLI scheme is expected to save government funding and increase the share of renewable energy at the national grid level due to the significant reduction in crude oil imports.

Also read: How PLI Becomes a Game Changer for Indian Manufacturing and Export

Also read: Will the new PLI scheme help scale up India?

Trust among 10 bidders for the government’s PLI scheme for batteries, Ora, L & T

Source link Trust among 10 bidders for the government’s PLI scheme for batteries, Ora, L & T

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