Reliance, Ola, L&T among 10 bidders for govt's PLI scheme for batteries

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The authorities has received bids from 10 companies, including Reliance, Ola and Larsen & Toubro (L&T), nether its production-linked inducement (PLI) strategy for precocious chemistry compartment (ACC) artillery retention programme, the Ministry of Heavy Industries said connected Saturday.

The 10 companies person submitted bids nether the Rs 18,100-crore strategy for mounting up astir 130 GWh of capacity. Reliance New Energy Solar Limited; Hyundai Global Motors Company Limited; Ola Electric Mobility Private Limited; Lucas-TVS Limited; Mahindra & Mahindra Limited; Amara Raja Batteries Limited; Exide Industries Limited; Rajesh Exports Limited; Larsen & Toubro Limited and India Power Corporation Limited are the companies which person applied for the scheme.

The ministry had released the Request for Proposal (RFP) for the PLI strategy connected October 22, 2021. The strategy was unfastened for receiving applications till 11:00 americium connected January 14, 2022 and the method bids were opened connected January 15, 2022.

The authorities had approved the PLI scheme, 'National Programme connected Advanced Chemistry Cell (ACC) Battery Storage', for achieving manufacturing capableness of 50 GWh of ACC successful bid to heighten the country's manufacturing capabilities.

"Under the said inaugural the accent of the authorities is to execute greater home worth addition, portion astatine the aforesaid clip guarantee that the levelized outgo of artillery manufacturing successful India is globally competitive," a connection from the ministry said.

It added that the programme is designed successful specified a mode that it is exertion agnostic. The beneficiary steadfast volition beryllium escaped to take suitable precocious exertion and the corresponding works and machinery, earthy worldly and different intermediate goods for mounting up compartment manufacturing installation to cater to immoderate application.

The manufacturing installation would person to beryllium acceptable up wrong a play of 2 years. The incentives volition beryllium disbursed thereafter implicit a play of 5 years connected merchantability of batteries manufactured successful India.

The ACC PLI strategy is expected to effect successful redeeming the authorities wealth connected relationship of simplification successful import of crude-oil to a important grade and summation the stock of renewable vigor astatine the nationalist grid level.

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