A total of four companies have been selected for incentive under Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) Battery Storage.
This includes Reliance New Energy Solar; Ola Electric Mobility; Hyundai Global Motors Company and Rajesh Exports.
Hyundai Global Motors Company and Ola Electric Mobility have been awarded 20 GWh each, while Reliance New Energy Solar and Rajesh Exports were awarded five GWh each.
The manufacturing facility would have to be set up within a period of two years. The incentive will be disbursed thereafter over a period of five years on sale of batteries manufactured in India.
These companies will receive incentives under Rs 18,100 crore programme to boost local battery cell production.
As many as 10 companies submitted bids under the ACC Battery Storage Programme for which request for proposal (RfP) was released by the Ministry of Heavy Industries (MHI) on 22 October 2021.
All the 10 bids were evaluated and nine companies were found responsive and meeting the conditions of eligibility as per the requirements under the RfP.
Final evaluation of the selected bidders was carried out as per quality & cost-based selection (QCBS) mechanism and the bidders were ranked on the basis of their combined technical and financial score.