Reliance Industries has been given the green light to set up a battery manufacturing facility capable of producing up to 10 GW under the Rs 3,620 crore Production Linked Incentive (PLI) scheme for ACC Battery Storage.
Reliance Industries Limited has been awarded 10 GWh ACC capacity under Production Linked Incentive (PLI) scheme based on QCBS mechanism, as per the official statement
Reliance Industries has been given the green light to set up a battery manufacturing facility capable of producing up to 10 GW under the Rs 3,620 crore Production Linked Incentive (PLI) scheme for ACC Battery Storage.
The Ministry of Heavy Industries had invited bids from seven companies through a global tender for this PLI scheme, which aims to support 10 GWh of Advanced Chemistry Cell (ACC) manufacturing. The scheme was announced earlier this year, with a total budget of Rs 3,620 crore.
The shares of the Mukesh Ambani-led conglomerate closed at Rs Rs 3,031.95, up by nearly 0.45 per cent on the National Stock Exchange.
During Reliance's AGM (Annual General Meeting) held last month, the company announced several upcoming infrastructure projects, especially catering to green energy and AI.
The list of bidders who submitted bids in response to this tender were ACME Cleantech Solutions Private Limited, Amara Raja Advanced Cell Technologies Private Limited, Anvi Power Industries Private Limited, JSW Neo Energy Limited, Lucas TVS Limited, Reliance Industries Limited, and Waaree Energies Limited for a cumulative capacity of 70 GWh.
All seven bids were evaluated, and six companies were shortlisted for financial evaluation as per the requirements under the RFP.
"Reliance Industries Limited has been awarded 10 GWh ACC capacity under Production Linked Incentive (PLI) scheme based on QCBS mechanism," an official statement said.
The financial bids for the qualified bidders were opened on August 2, 2024, after the announcement of the results of the technical evaluation, under the transparent global tender process of RFP through the CPP portal of the government.
"Final evaluation of the shortlisted bidders was carried out as per quality & cost-based selection (QCBS) mechanism and the bidders were ranked based on their combined technical and financial scores.
"The ministry has awarded the 10 GWh PLI ACC capacity to the shortlisted bidder with highest the overall score, i.e., Reliance Industries Limited, and the remaining five shortlisted bidders are put on the waiting list as per their rank, starting from Rank II onward," the statement said.
In May 2021, the Cabinet approved the technology-agnostic PLI Scheme on 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage' for achieving a manufacturing capacity of Fifty (50) Giga Watt hours (GWh) of ACC with an outlay of Rs 18,100 crore.
(With inputs from PTI)