India is set to embark on a significant milestone in its pursuit of advanced energy storage solutions, with the production of the first batch of Advanced Chemistry Cell (ACC) batteries expected to commence by January 2024, announced Union Minister Mahindra Nath Pandey on Tuesday.

The government greenlit the Production Linked Incentives (PLI) scheme for ACC battery manufacturing in May 2021, earmarking an estimated investment of Rs 18,100 crore for this endeavor. Advanced Chemistry Cell (ACC) batteries represent the forefront of cutting-edge energy storage technologies, capable of storing electric energy in various forms, be it electrochemical or chemical energy, and converting it back into electricity as needed.

"In December of this year or by January of the following year, we anticipate the initiation of ACC battery production within our nation," stated the Union Minister of Heavy Industries, underlining the imminent shift towards domestic production of these advanced energy storage units.

This development is poised to mark a significant leap forward for India in the realm of energy storage and sustainable technology. ACC batteries have the potential to revolutionize the energy landscape, offering enhanced energy storage capabilities for a wide range of applications, including electric vehicles and renewable energy systems. The PLI scheme's implementation is expected to strengthen India's position as a player in the global transition towards cleaner and more efficient energy solutions.