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Reliance Industries Wins 10 GWh Capacity for ACC Manufacturing

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Synopsis:

Reliance Industries has won a 10 GWh capacity for Advanced Chemistry Cell manufacturing under the PLI ACC scheme, positioning itself as a leader in battery technology. The programme aims to bolster India's domestic production capacity and reduce import dependency.

The Ministry of Heavy Industry announced on September 4 that Reliance Industries Ltd has been awarded a 10 GWh (gigawatt hour) capacity for Advanced Chemistry Cell (ACC) manufacturing under the Production Linked Incentive (PLI) Scheme. This move is part of the government’s ongoing effort to promote domestic manufacturing in critical sectors, such as energy storage.

A competitive global tender

The awarding of the 10 GWh capacity followed a rigorous global tendering process that saw seven bids from leading companies, including ACME Cleantech Solutions, Amara Raja Advanced Cell Technologies, JSW Neo Energy, and Waaree Energies. The evaluation of the bids was based on a Quality & Cost Based Selection (QCBS) mechanism, which considered both technical and financial parameters.

Reliance Industries secured the top score, ensuring its place as the leader in this critical field. ACME Cleantech Solutions and Amara Raja Advanced Cell Technologies followed closely behind, being ranked as the top runners-up.

Supporting domestic battery production

The PLI ACC scheme, which was approved by the Cabinet in May 2021, is a key component of India's broader efforts to enhance domestic manufacturing capacity. The scheme, under the 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage,’ aims to establish a 50 GWh manufacturing capacity for ACC with a financial outlay of ₹18,100 crore.

In March 2022, three beneficiary companies were awarded a total of 30 GWh capacity during the first round of bidding. The recent selection of Reliance Industries adds to this tally, bringing India closer to achieving its goal of reducing dependency on imported battery technology while fostering self-reliance.

Driving India’s clean energy future

This initiative aligns with Prime Minister Narendra Modi's 'Make in India' and 'Atmanirbhar Bharat' initiatives, aiming to reduce the country’s reliance on imports. By promoting technology-agnostic ACC production, the PLI scheme ensures that companies like Reliance Industries will be equipped to manufacture batteries for electric vehicles, renewable energy storage, and other critical sectors, strengthening India’s position in the global battery market.

The award of 10 GWh capacity to Reliance Industries under the PLI ACC scheme marks a significant step forward in India’s energy storage and manufacturing ambitions. With this capacity, Reliance Industries will play a pivotal role in shaping India’s clean energy future.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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