Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) Battery Storage
Part of: Prelims and Mains GS-3: Indian Economy
In News: The scheme received an encouraging response from local as well as global investors as bids received is 2.6 times the manufacturing capacity to be awarded i.e. 50 Gwh – a total of 10 bids with capacity ~ 130 Gwh.
- Aim: To achieve a manufacturing capacity of 50 GigaWatt Hour of ACC and five Giga Watt Hour of Niche ACC with an outlay of 18,100 crore.
- 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.
- Envisages an investment which will boost domestic manufacturing & also facilitate battery storage demand creation for both electric vehicles and stationary storage along with development of a complete domestic supply chain & Foreign Direct Investment in the country
- It will also give a big push to electric mobility, benefiting three-wheelers, four-wheelers and heavy vehicles.
- Expected to result in saving to the nation on account of reduction in import of crude-oil to a significant extent and increase the share of renewable energy at the national grid level.
- India is currently importing Battery Storage Equipment
The scheme will be helpful in making the country self-reliant (Atmanirbhar), enabling India to leapfrog from traditional fossil fuel-based automobile transportation system to environmentally cleaner, sustainable, advanced and more efficient Electric Vehicles (EV) based system.
News Source: PIB