Question : On May 12, 2021, the Union Cabinet approved which production-related incentive scheme ?
(a) National Programme on Advanced Chemistry Cell Battery Storage
(b) National Programme on Advanced Physics
(c) National Programme on Advanced Computing
(d) None of the above
Ans.(a)
Related facts
- The Union Cabinet has recnelty(May 2021) approved a Rs. 18,100-crore Production Linked Incentive (PLI) scheme for manufacturers of Advanced Chemistry Cell (ACC) battery storage, to reduce imports.
- The scheme is called the NPACC.
- NPACC stands for — National Programme on Advanced Chemistry Cell Battery Storage.
- Organiser of the programme is Ministry of Heavy Industries & Public Enterprises.
- The plan is to set up 50 gigawatt hour (GWh) manufacturing capacity for ACC batteries by attracting investments totaling Rs. 45,000 crore.
- Requires each selected ACC battery Storage manufacturer to set-up an ACC manufacturing facility of minimum 5 GWh capacity, achieve a domestic value addition of at least 25% and incur the mandatory investment Rs.225 crore /GWh within twenty four months.
- Furthermore, the beneficiary firms need to ensure a minimum 60% domestic value addition at the Project level within sixty months.
- The incentive will be disbursed over a period of five years. It will be paid out on the basis of sales, energy efficiency, battery life cycle, and localization levels.
- Advanced Chemistry Cell (ACC)
- It is 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.