Indian government latterly declared about the extension of Production Linked Incentive (PLI) scheme to Advanced Chemistry Cell (ACC) battery storage in our country. On Wednesday September 11, India sanctioned around Rs18000 crore to Indian Cellular and Electronics Association (ICEA) to manufacture the core component.
This project was approved by our Hon. P M ,Narendra Modi chaired by Union Cabinet. The aim of this project is , everyone in the country should divert to electric vehicles to deterrent pervasive pollution in major cities and also to cut credit on exorbitant oil imports.
The plan of action of the scheme is to put up 50 GIGA watt hour production capacity for advance chemistry cell batteries. According to Indian government the total investment for this project be around 45000 crore and among this, 18000 crore has been released for the work of battery storage manufacturing.
“Each selected ACC battery storage manufacturer would have to commit to set up an ACC manufacturing facility of minimum 5GWh capacity and ensure a minimum 60% domestic value addition at the project level within five years,” the government said in a statement.
ACC batteries are offspring whch has ultra modern storage technology which can store electric energy either as electrochemical or as chemical energy and can convert it back to electric energy as and when required.
“We at ICEA believes that the PLI scheme would give thrust to ‘Make in India’ initiative and will attract huge investments of Rs 45,000 crore plus in the coming years. With this push for ACC batteries, the sector would witness robust growth in the coming years,” said Pankaj Mohindroo, Chairman, ICEA.
The ACC batteries encloses large sectors which includes electric vehicles, mobiles, consumer electronics, solar rooftop , etc..The success of this scheme leads India’s pioneering immaculate energy targets and the sporadic nature of electricity from clean energy sources.