This move aims to achieve manufacturing capacity of 50 Giga Watt Hour of ACC and 5 GWh of “Niche” ACC with an outlay of Rs.18,100 crore, the Centre said.
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.
The policy aims to make manufacturers globally competitive, boost exports, achieve economies of scale and produce cutting edge products.
ACCs are the new generation of advanced storage technologies that can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and when required, an official statement said.
Major battery consuming sectors like consumer electronics, electric vehicles, advanced electricity grids, solar rooftop etc. are expected to achieve robust growth in the coming years, it said, adding it is likely that the dominant battery technologies will control some of the world”s largest growth sectors.