Ministry of Heavy Industries
Subsidy For Production of Electric Batteries
Posted On: 20 DEC 2024 5:30PM by PIB Delhi
The Ministry of Heavy Industries (MHI) administers a Production Linked Incentive (PLI) Scheme namely “National Programme on Advanced Chemistry Cell (ACC) Battery Storage”. Under the scheme, the total outlay is ₹18,100 Crore for a capacity of 50 GWh for a period of 5 years after gestation period of 2 years. Incentive disbursement of allocated funds shall commence after achieving Milestone-I. Beneficiary firms must ensure to achieve an investment of ₹225 Crore per GWh of the committed capacity at the end of 2 years from the appointed date as well value addition of at least 25% within 2 years (at the Mother Unit Level) from the appointed date i.e. Milestone-1 and raise it to 60% value addition within 5 years from the appointed date i.e. Milestone-2. The details of the scheme may be seen at: https://heavyindustries.gov.in/pli-scheme-national-programme-advanced-chemistry-cell-acc-battery-storage
The PLI-ACC Scheme envisages an investment which will boost domestic manufacturing & also facilitate battery storage demand creation for both electric vehicles and stationary storage along with the development of a complete domestic supply chain in the country. The scheme will accelerate electric vehicle adoption and hence translate into substantial savings on account of oil import bill during the period of this Programme and increase the share of renewable energy at the national grid level.
This information was given by the Minister of State for Heavy Industries and Steel, Shri Bhupathiraju Srinivasa Varma in a written reply in the Rajya Sabha today.
*****
MG/KSR
(Release ID: 2086530) Visitor Counter : 167
