Cabinet approves Rs 18,000 cr PLI scheme for ACC batteries
By IANS |
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New Delhi, May 12 : The Union Cabinet has approved Production Linked Incentive (PLI) scheme, National Programme on Advanced Chemistry Cell (ACC) Battery Storage for achieving manufacturing capacity of 50 Giga Watt Hour (GWh) of ACC and 5 GWh of niche ACC, at an outlay of Rs 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. The consumer electronics, electric vehicles, advanced electricity grids, solar rooftop among others, which are major battery consuming sectors, are expected to achieve robust growth in the coming years.
Centre approves Rs 18,000 cr PLI scheme for ACC batteries - To boost production in the country, an investment of Rs 45,000 cr will be made in it. Those investing in it will get an incentive of Rs 16,000 crore.
Read more about Market Wrap Podcast, May 12: Here s all that happened in the markets today on Business Standard. Tata Motors, PowerGrid, Titan Company, Maruti Suzuki, UPL, Cipla, State Bank of India, and NTPC were the top gainers on the 50-share index today, up between 1 per cent and 3 per cent
Government To Provide Incentives For Battery Storage Makers Government To Provide Incentives For Battery Storage Makers The Rs 18,100 crore plan would reduce India s import dependence and help sectors such as consumer electronics, electric vehicles, and solar energy.
Updated: May 12, 2021 6:27 pm IST
Union Cabinet headed by Prime Minister Narendra Modi on Wednesday approved a proposal to provide incentives to boost domestic production of batteries with advanced energy storage capacities, a government minister said.
The Rs 18,100 crore plan would reduce India s import dependence and help sectors such as consumer electronics, electric vehicles, and solar energy, Heavy Industries and Public Enterprises Minister Prakash Javadekar told a news conference.
Modi Govt Approves Rs 18,100 Crore PLI Scheme To Incentivize Domestic Production Of Advanced Chemistry Cell Battery Storage
by Swarajya Staff - May 12, 2021 10:42 AM
Prime Minister Narendra Modi and other ministers at a Make-in-India conclave (File photo)
The Union Cabinet on Wednesday (12 May) has approved Production Linked Incentive (PLI) Scheme named as National Programme on Advanced Chemistry Cell (ACC) Battery Storageâ for achieving manufacturing capacity of 50 GigaWatt Hour (GWh) of ACC and five GWh of niche ACC with an outlay of Rs 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.