Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ News / India/  RIL, ACME, JSW among 7 bidders for 10 GWh ACC PLI
BackBack

RIL, ACME, JSW among 7 bidders for 10 GWh ACC PLI

A total of 50 GWh capacity was to be allocated under the PLI scheme for advanced chemistry cell (ACC) battery storage’with an outlay of ₹18,100 crore.

The seven companies have filed bids for a cumulative capacity of 70 GWh. (www.amararajabatteries.com)Premium
The seven companies have filed bids for a cumulative capacity of 70 GWh. (www.amararajabatteries.com)

New Delhi: Seven companies, including Reliance Industries (RIL), ACME Cleantech Solutions Pvt Ltd, JSW Neo Energy Ltd and Waaree Energies, have placed their bids – in a second round – for manufacturing advanced chemistry cells (ACC) with a capacity of 10 gigawatt hours under the government’s production linked incentive scheme.

The last date for filing applications was 22 April and the technical bids opened on Tuesday. The three other bidders are Amara Raja Advanced Cell Technologies Pvt Ltd, Anvi Power Industries Pvt Ltd and Lucas TVS Ltd.

Each of the seven companies filed a bid for a capacity of 10 GWh.

“Ministry of heavy industries (MHI) has received bids from seven bidders under global tender for the re-bidding of Production Linked Incentives (PLI) for 10 GWh advanced chemistry cell (ACC) manufacturing announced on 24 January 2024," it said.

 

A total of 50 GWh capacity was to be allocated under the PLI scheme on 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage’ with an outlay of 18,100 crore.

However, after initial allocation of the 50 GWh capacity, one of the selected applicants in the first round, Hyundai Global withdrew as the South Korean automobile major Hyundai Motor Company and its Indian arm Hyundai Motor India Ltd (HMIL) clarified that they had nothing to do with the company. This left 20 GWh capacity unallocated.

Shortlisting bidders

On 24 January 2024, the ministry sought Requests for Proposal (RfP) for shortlisting bidders for setting up of ACC manufacturing units with a total capacity of 10 Giga Watt Hour (GWh) with a budgetary outlay of up to 3,620 crore.

Reliance Industries arm Reliance New Energy Ltd already is a beneficiary of the scheme with 5 GWh capacity won in the first round. The other successful bidders of the first round are Rajesh Exports Ltd and Ola Electric Mobility Pvt Ltd.

“The first round of the ACC PLI bidding was concluded in March 2022, and three beneficiary firms were allocated a total capacity of 30 GWh, and the programme agreement with selected beneficiary firms was signed in July 2022," said the ministry’s statement on Tuesday.

The heavy industries ministry plans to allocate the remaining 10 GWh capacity for utility-scale battery manufacturing or battery energy storage systems.

The government came up with the PLI scheme to lower the import dependence on China which is a major manufacturer of electric vehicle batteries and also to achieve its ambitious target of net zero carbon emission by 2070.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 23 Apr 2024, 08:16 PM IST
Next Story footLogo
Recommended For You