Reliance New Energy Secures 10 GWh ACC Capacity Under ₹18,100 Crore PLI Scheme

20 Feb 2025 , 10:22 AM

Reliance Industries Ltd’s (RIL) wholly-owned subsidiary, Reliance New Energy Battery Ltd (RNEBL), had signed an MoU with the Ministry of Heavy Industries for 10 GWh capacity under the Production-Linked Incentive (PLI) scheme for Advanced Chemistry Cell (ACC) battery storage.

The agreement, executed on February 17, qualifies RNEBL for incentives under India’s ₹18,100 crore PLI ACC scheme, after taking part in a competitive global tender.

The PLI ACC scheme was approved in May 2021 by the Union Cabinet to achieve a total manufacturing capacity of 50 GWh and increase domestic battery manufacturing and, in turn, energy security for the country. With this agreement, the total capacity assigned under the scheme has surpassed 40 GWh, across four beneficiary companies.

In the first round of bidding held in March 2022, three firms were awarded a total of 30 GWh capacity, with agreements signed in July 2022.

Keeping this sector’s relevance in mind, more incentives have been introduced by an expert fund in the Union Budget 2025 to take further progress in the manufacture of batteries for electric vehicles (EVs) under the ‘Draft Regulation-EV), which includes exemption of capital goods for the manufacture of EV battery from Basic Customs Duty (BCD) up to 35.

The initiative ties into India’s plans to ramp up domestic lithium-ion battery production, therefore enhancing the country’s growth into clean technology and electric mobility.