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Reliance Industries (RIL) has been awarded a 10-GWh Advanced Chemistry Cell (ACC) battery storage unit under the government’s Production-Linked Incentive (PLI) scheme. The award was based on a Quality and Cost-Based Selection (QCBS) process, marking a significant step in India’s push towards sustainable energy solutions.
Under the PLI scheme, RIL is required to achieve a minimum of 25% domestic value addition in the first phase, increasing to 60% within five years. Additionally, the company must invest Rs 225 crore per GWh for the committed capacity within two years, aligning with the government’s goals for boosting local manufacturing.
The Ministry of Heavy Industries (MHI) evaluated seven bids and shortlisted six companies for the financial evaluation. The financial bids were opened on August 2, 2024, with RIL emerging as a key beneficiary of this prestigious project.
This award follows the first round of ACC PLI bidding, concluded in March 2022, where three firms were allocated a total of 30 GWh capacity. The agreements for these firms were signed in July 2022, setting the stage for the program’s implementation.
The PLI scheme includes a two-year gestation period, from January 1, 2023, to December 31, 2024, followed by a five-year performance period, running until December 31, 2029. This timeline ensures that selected companies like RIL will contribute significantly to India’s energy storage and manufacturing capabilities over the next decade.
News by Rahul Yelligetti
