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CABINET APPROVES PLI SCHEME FOR ADVANCED CHEMISTRY CELL (ACC) BATTERY STORAGE

CABINET APPROVES PLI SCHEME FOR ADVANCED CHEMISTRY CELL (ACC) BATTERY STORAGE

Context

Recently, the Cabinet has approved the proposal of the Department of Heavy Industry for implementation of the Production Linked Incentive (PLI) Scheme ‘National Programme on Advanced Chemistry Cell (ACC) Battery Storage’.

Details

  • Aim: To achieve a manufacturing capacity of 50 GigaWatt Hour of ACC and five Giga Watt Hour of Niche ACC with an outlay of 18,100 crore.
  • ACCs are the new generation of advanced storage technologies that can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and when required.

Production Linked Incentive Scheme(PLI)

  • It is an outcome- and output-oriented scheme where incentives will be paid only if the manufacturers make the goods.
  • This scheme will give cash incentives for five to seven years and all the sunrise and important sectors are proposed to be covered in this.
  • The sectors may be automobile, networking products, food processing, advanced chemistry and solar PV manufacturing.

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