Centre to re-bid $2.4 bn incentive program for 20 GWh Advanced Chemistry Cell

New Delhi, July 21 (KNN) The government has announced its decision to re-bid the production-linked incentives for the Advanced Chemistry Cell manufacturing program.

Centre on Thursday said that the Ministry of Heavy Industries (MHI) will facilitate a stakeholder consultation with industry representatives on July 24, 2023 for their inputs and suggestions before the start of the re-bidding process of remaining 20 GWh capacity.

"The ministry is committed to finalize the bidding documents and proceeding with the rebidding process at the earliest," an official statement said.

As per report, with this opening of the re-bidding process, the prospective applicants can submit their bids to set up domestic manufacturing facility for advanced chemistry cell, which will help them qualify for incentives under ACC PLI scheme.

The government approved the PLI scheme 'National Programme on ACC Battery Storage' for achieving a manufacturing capacity of 50 Giga Watt Hour (GWh) of ACC to enhance manufacturing capabilities with a budgetary outlay of Rs 18,100 crore.

Under the initiative, the emphasis of the government is to achieve greater domestic value addition, while at the same time ensuring that the levelized cost of battery manufacturing in India is globally competitive.

ACC’s have major applications in the electric vehicles, maintaining grid stability, solar rooftop, consumer electronics etc. With India's commitment towards renewable energy and achieving net-zero by 2070, energy storage is expected to play a crucial role in the overall energy ecosystem.  (KNN Bureau)