The Union Cupboard on Wednesday authorized the proposal of the division of heavy industries for executing the ‘Manufacturing Linked Incentive’ (PLI) scheme in home battery manufacturing.
Below the PLI scheme floated by the Central authorities, the Cupboard in November 2020 had authorized Rs 18,000 crore for home manufacturing of Superior Chemistry Cell (ACC) Battery Storage and cut back import dependence.
At the moment, nation’s ACC demand is being met by imports.
The nodal ministry thereafter proposed a Nationwide Programme on ACC Battery Storage’ for attaining manufacturing capability of fifty) GigaWatt-Hour (Gwh) of ACC and 5 GWh of “Area of interest” ACC. This was authorized by the Cupboard on Wednesday.
Every chosen ACC battery Storage producer must decide to set-up an ACC manufacturing facility of minimal 5 GWh capability and guarantee a minimal 60 per cent home worth addition on the venture degree inside 5 years, mentioned the coverage word by the Cupboard.
“The beneficiary companies must obtain a home worth addition of a minimum of 25 per cent and incur the necessary funding Rs 225 crore/GWh inside 2 Years (on the Mom Unit Stage)