Sign In
Learn bits
Economy
Pradeep Kumar

13/05/21 10:05 AM IST

National Programme on Advanced Chemistry Cell Battery Storage

In news

Cabinet approves Production Linked Incentive scheme National Programme on Advanced Chemistry Cell Battery Storage

Highlights
  • It is being done for achieving manufacturing capacity of Fifty (50) Giga Watt Hour (GWh) of ACC and 5 GWh of "Niche" ACC with an outlay of Rs.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. 
  • It is expected that the dominant battery technologies will control some of the world's largest growth sectors.
  • All the demand of the ACCs is currently being met through imports in India.
PLI
  • It offers a production linked incentive to boost domestic manufacturing and attract large investments 
  • The scheme shall extend an incentive of 4% to 6% on incremental sales (over base year) of goods manufactured in India and covered under target segments, to eligible companies, for a period of five (5) years subsequent to the base year as defined. 
Significance
  • Setup a cumulative 50 GWh of ACC manufacturing facilities in India under the Programme.
  • Facilitate demand creation for battery storage in India.
  • Facilitate Make-ln-lndia: Greater emphasis upon domestic value-capture and therefore reduction in import dependence.
  • The manufacturing of ACCs will facilitate demand for EVs, which are proven to be significantly less polluting. As India pursues an ambitious renewable energy agenda, the ACC program will be a key contributing factor to reduce India's Green House Gas (GHG) emissions which will be in line with India's commitment to combat climate change.
  • Import substitution of around Rs.20,000 crore every year.
  • Impetus to Research & Development to achieve higher specific energy density and cycles in ACC.
  • Promote newer and niche cell technologies.
Source: PIB

More Related Current Affairs View All

20 Feb

The Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999

'Investors who were defrauded in the Torres Ponzi scam may receive about Rs 40 crore over the next six months.' The Mumbai Police’s Economic Offences Wing (EOW) has begun

Read More

18 Feb

Aravali safari park project

'The Haryana government’s ambitious 3,858 hectare Aravali safari park project spread across Gurugram and Nuh — which was one of the poll promises of the ruling Bharatiy

Read More

17 Feb

President’s rule function

'Recently,  four days after Manipur Chief Minister N. Biren Singh’s resignation, the Union government announced that President’s rule has been implemented in the v

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps