The Ministry of Heavy Industries has awarded a 10 GWh capacity under the Production Linked Incentive Scheme for Advanced Chemistry Cell Battery Storage to Reliance New Energy Battery Limited, a subsidiary of Reliance Industries Limited. The signing of the Programme Agreement marks another milestone in the implementation of India's National Programme on Advanced Chemistry Cell Battery Storage. With this latest allocation, a total of 40 GWh capacity has been awarded to four beneficiary firms, bringing India closer to achieving its goal of 50 GWh domestic manufacturing capacity.
Swarajya: India's Quest for Energy Independence
Background
Swarajya, a Sanskrit term meaning self-governance, has long been a guiding principle in India's pursuit of economic and technological independence. This concept extends to the nation's energy sector, where the government is actively promoting domestic manufacturing and research to reduce dependence on imported fossil fuels.
Advanced Chemistry Cell Battery Storage
In line with this vision, the Ministry of Heavy Industries launched the National Programme on Advanced Chemistry Cell Battery Storage (ACC Battery Storage) in 2021. The program aims to encourage domestic production of advanced batteries for use in electric vehicles, energy storage systems, and other applications.
Under the program, the government offers financial incentives and support to eligible companies that invest in ACC battery manufacturing facilities in India. The incentives include Production Linked Incentive (PLI) schemes, which provide subsidies based on incremental production targets.
Reliance New Energy Battery's Allocation
On June 1, 2023, the Ministry of Heavy Industries awarded Reliance New Energy Battery Limited, a subsidiary of Reliance Industries Limited, a 10 GWh capacity under the PLI scheme for ACC Battery Storage. This allocation brings the total capacity awarded under the program to 40 GWh.
This award is a significant milestone in India's efforts to establish a domestic ACC battery manufacturing industry. It will enable Reliance to set up a large-scale manufacturing facility in the country and contribute to the nation's goal of achieving 50 GWh of domestic manufacturing capacity by 2025.
FAQs
1. What are the benefits of ACC Batteries? ACC batteries have higher energy density, longer lifespan, and faster charging times compared to conventional lead-acid batteries. They are ideal for use in electric vehicles and energy storage systems.
2. How will the PLI scheme benefit India? The PLI scheme will incentivize domestic production of ACC batteries, reduce import dependence, create jobs, and stimulate economic growth in the manufacturing sector.
3. What other companies have received ACC Battery Storage allocations? In addition to Reliance New Energy, three other companies have been awarded 10 GWh capacity each under the PLI scheme: Exide Industries, Tata AutoComp, and Ola Electric Technologies.
4. What is the significance of 50 GWh domestic manufacturing capacity? Achieving 50 GWh of domestic ACC battery manufacturing capacity will make India a global hub for battery production and meet the growing demand for electric mobility and energy storage in the country.
5. What are the government's other initiatives for energy independence? Beyond the ACC Battery Storage program, the government is also promoting renewable energy sources, such as solar and wind, and investing in hydrogen fuel research to diversify the nation's energy mix and reduce dependency on fossil fuels.
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