JSW, Reliance, TVS place bids for battery PLI sops
JSW Neo Energy, Reliance Industries, Lucas TVS, ACME Cleantech, Amara Raja, Anvi Power, and Waaree Energies have participated in auction of production linked incentives (PLI) for setting up new age battery manufacturing capacity in the country. An official statement said the companies have bid for setting up a cumulative capacity of 70 Giga Watt hours (GWh) while of sops are available only for 10 GWh. Technical bids for Rs 3,620 crore of PLI were opened on Tuesday.
Bids have been received from these seven bidders under a global tender for the re-bidding of PLI for 10 GWh Advanced Chemistry Cell (ACC).
The centre had approved a technology agnostic PLI Scheme under the National Programme on Advanced Chemistry Cell (ACC) Battery Storage in May 2021. The goal was to achieve manufacturing capacity of 50 GWh of ACC with a PLI outlay of Rs 18,100 crore.
The first round of the ACC PLI bidding was concluded in March 2022. Ola Cell Technologies won the lion’s share with 20 GWh capacity in its kitty. ACC Energy Storage (bid as Rajesh Exports) and Reliance New Energy Battery Storage were awarded incentives for 5 GWh each. Program agreement with selected beneficiary firms was signed in July 2022.
Another 20 GWh of incentives was initially awarded to a company found to be impersonating Korean automotive giant Hyundai Motor Company. This allocated capacity was vacated and half of it is being rebid in the current round.
While the real Hyundai Motor Company was among the 18 participants of the pre-bid meeting for this round, it
