Page 34 - Edelweiss India Conference 2022 FLIPBOOK

THE NEW EDGE

In May 2021, the cabinet approved implementation of PLI Scheme “National Programme
on Advanced Chemistry Cell (ACC) Battery Storage” to achieve manufacturing capacity of
50GWh ACC and 5GWh of "Niche" ACC with an outlay of INR181bn.

The National Programme on ACC Battery Storage will reduce currently large import
dependence. ACC battery Storage manufacturers will be selected through a transparent
competitive bidding process.

The manufacturing facility should be commissioned within two years and incentives will

Each selected ACC battery Storage manufacturer would have to commit to set up an ACC
manufacturing facility of minimum 5GWh capacity and ensure a minimum 60% domestic

PLI scheme of
INR181bn: To spur
manufacturing of 25% and incur mandatory investment of INR2.25bn/GWh within two years (at mother unit
Advanced Chemistry
in case of an integrated unit, or at the project level, in case of a "Hub & Spoke" structure.
Cells (ACCs)

• Set up cumulative 50GWh of ACC manufacturing facilities in India

• Direct investment of ~IN450bn in ACC Battery storage projects

• Facilitate demand creation for battery storage in India

• Facilitate Make ln lndia: Greater emphasis on domestic value-capture and therefore
reduction in import dependence

• Net savings of Indian INR2tn-2.5tn on account of oil import bill reduction during
the period of this programme due to EV adoption as ACCs manufactured under the
programme are expected to accelerate EV adoption

•
less polluting; the ACC programme will be a key contributing factor in reducing India's
GHG emissions in line with the country’s commitment to combat climate change

• Import substitution of around INR200bn every year

•
cycles in ACC

• Promote newer and niche cell technologies

32 Edelweiss Securities Limited