Ola Cell, ACC Energy, and Reliance secure deals as India aims for 50GWh by 2030

TAGS

The Ministry of Heavy Industries has given a major boost to India’s Advanced Chemistry Cells (ACC) battery storage market by awarding a combined capacity of 30GWh to three key players—Ola Cell Technologies Pvt. Ltd., ACC Energy Storage Pvt Ltd., and Reliance New Energy Battery Storage Ltd. The Ministry aims to reach a whopping 50GWh production by 2030 and is set to award another 20GWh in this high-stakes arena.

To oversee the ambitious project, Engineers India Limited (EIL) has been designated as Independent Engineers. The prototype testing phase is nearing completion and commercial production is slated to kick-off in Financial Year 2024. With this development, the total investment by these beneficiary organizations in ACC technology has shot up to a staggering ₹2090 Crore.

See also  Hero MotoCorp, Harley-Davidson expand customer touchpoints in India

All three beneficiaries are well underway in technology development, aligning with the Ministry’s vision for domestic value addition. Ola Cell Technologies is setting up its state-of-the-art manufacturing facility in Krishnagiri, Tamil Nadu. ACC Energy Storage is following suit with its facility in Dharwad, Karnataka. Not to be outdone, Reliance New Energy Battery Storage is erecting its facility in Jamnagar, Gujarat, all generating local employment opportunities.

See also  Venus Pipes & Tubes launches commercial production of LSAW pipes

Adding international flair to the endeavor, Reliance New Energy Limited has further announced acquisitions of three overseas companies specializing in ACC manufacturing. This amplifies the global reach of India’s burgeoning ACC market.

In a bid to fuel India’s Electric Mobility and Battery Storage ecosystem, the Ministry of Heavy Industries launched the Production Linked Incentive (PLI) scheme in June 2021. With a budgetary outlay of ₹18,100 Crore, the scheme aligns perfectly with the “Make in India” and “Aatmanirbhar Bharat” initiatives, reinforcing India’s commitment to become a global ACC powerhouse.

CATEGORIES
TAGS
Share This