Reliance New Energy Secures 10 GWh Under PLI ACC Scheme

19 Feb 2025 CW Team

This agreement marks another milestone in the implementation of the National Programme on Advanced Chemistry Cell (ACC) Battery Storage, approved in May 2021, which aims to establish 50 GWh of domestic manufacturing capacity. With this signing, a cumulative 40 GWh capacity has now been allocated to four beneficiary firms. The first round of bidding in March 2022 had awarded 30 GWh to three firms, with Programme Agreements signed in July 2022.

Senior MHI officials highlighted that the PLI ACC Scheme is designed to enhance local value addition while keeping India's battery manufacturing costs globally competitive. The scheme allows beneficiaries the flexibility to adopt the most suitable technologies and inputs to establish state-of-the-art ACC manufacturing facilities, supporting India's growing EV and renewable energy storage sectors.

Complementing the PLI initiative, the Union Budget for FY 2025-26 introduced key measures to accelerate domestic battery manufacturing. These include exempting 35 additional capital goods used in EV battery production from Basic Customs Duty (BCD), a move aimed at bolstering lithium-ion battery production in India. The Budget’s broader push for strengthening domestic manufacturing and value addition reinforces the government's vision of a self-reliant battery ecosystem.

The Ministry of Heavy Industries remains committed to fostering innovation, strengthening domestic supply chains, and attracting Foreign Direct Investment (FDI) to build a sustainable battery manufacturing sector. The government's efforts have already spurred investment, with over 10 companies setting up more than 100 GWh of additional cell manufacturing capacity beyond the PLI beneficiaries.

(PIB)

In a significant boost to India’s advanced battery manufacturing sector, the Ministry of Heavy Industries (MHI) signed a Programme Agreement with Reliance New Energy Battery Limited, a subsidiary of Reliance Industries Limited, on February 17, 2025. Under the Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC), the company has been awarded a 10 GWh manufacturing capacity, making it eligible for incentives under the Rs 181 billion scheme. This agreement marks another milestone in the implementation of the National Programme on Advanced Chemistry Cell (ACC) Battery Storage, approved in May 2021, which aims to establish 50 GWh of domestic manufacturing capacity. With this signing, a cumulative 40 GWh capacity has now been allocated to four beneficiary firms. The first round of bidding in March 2022 had awarded 30 GWh to three firms, with Programme Agreements signed in July 2022. Senior MHI officials highlighted that the PLI ACC Scheme is designed to enhance local value addition while keeping India's battery manufacturing costs globally competitive. The scheme allows beneficiaries the flexibility to adopt the most suitable technologies and inputs to establish state-of-the-art ACC manufacturing facilities, supporting India's growing EV and renewable energy storage sectors. Complementing the PLI initiative, the Union Budget for FY 2025-26 introduced key measures to accelerate domestic battery manufacturing. These include exempting 35 additional capital goods used in EV battery production from Basic Customs Duty (BCD), a move aimed at bolstering lithium-ion battery production in India. The Budget’s broader push for strengthening domestic manufacturing and value addition reinforces the government's vision of a self-reliant battery ecosystem. The Ministry of Heavy Industries remains committed to fostering innovation, strengthening domestic supply chains, and attracting Foreign Direct Investment (FDI) to build a sustainable battery manufacturing sector. The government's efforts have already spurred investment, with over 10 companies setting up more than 100 GWh of additional cell manufacturing capacity beyond the PLI beneficiaries. (PIB)

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

Infrastructure Energy

05 Aug 2026

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Infrastructure Urban

05 Aug 2026

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..