Reliance, Waaree among 22 shortlisted for battery storage tender

Reliance Industries Ltd, Waaree Energy Storage Solutions Pvt. Ltd, Megha Engineering and Infrastructures Ltd, JSW Neo Energy Ltd, Exide Energy Solutions Ltd, ACME Solar Holdings Ltd and Amara Raja Advanced Cell Technologies Pvt. Ltd are among 22 bidders shortlisted for the Centre’s 10GWh battery energy storage system (BESS) tender under the ₹18,100 crore production-linked incentive scheme for advanced chemistry cells (PLI-ACC).

The PLI-ACC scheme aims to create 50GWh of domestic cell-making capacity. The latest 10GWh tender follows the allocation of incentives for the remaining 40GWh to Ola Electric (20GWh), Reliance Industries and its subsidiary Reliance New Energy Ltd (15GWh), and Rajesh Exports Ltd (5GWh), which has faced controversy.

In June, the Securities and Exchange Board of India (Sebi) alleged that Rajesh Exports and its promoters were responsible for financial misrepresentation to the tune of ₹15 trillion.

This 10GWh capacity, for which the government has shortlisted 22 bidders, was earmarked for grid-scale storage in light of the country's growing power requirements and renewable energy deployment, whereas earlier incentive allocations were end-use-agnostic, the ministry of heavy industries said on Thursday.

The tender is significant because ₹3,620 crore in government incentives will be available to selected bidders once they make the required investments in cell manufacturing and begin selling domestically made advanced chemistry cells, according to the scheme guidelines and tender documents.

The remaining shortlisted companies are: Avaada Electro Ltd, Fujiyama Power Systems Ltd, GK Energy Ltd, Godawari New Energy Pvt. Ltd, JPM Energy Solutions Pvt. Ltd, Lineage Power Pvt. Ltd, Mahendra Sponge and Power Ltd, Nsure Reliable Power Solutions Pvt. Ltd, Renew Photovoltaics Pvt. Ltd, Sai Bioenergy Pvt. Ltd, Shirdi Sai Electricals Ltd, Sun Drops Energia Ltd, Utex New Energy Pvt. Ltd, Vikram Solar Ltd, Zetsol Energy Pvt. Ltd.

Mint's queries emailed to Reliance, Waree, Amara Raja and Exide late on Thursday evening did not receive an immediate response.

The PLI ACC scheme

Launched in 2021, the PLI ACC scheme has failed to gain traction, with disbursements under the flagship battery-manufacturing incentive scheme remaining at zero.

The government has previously cited a lack of available technology and skilled manpower, delays in importing critical machinery, and the unavailability of upstream components as key reasons developers have been unable to meet their targets.

As of February 2026, Ola Electric had developed 1GWh of cell-manufacturing capacity, while the other beneficiaries had developed none.

Mint reported in August that the government had given Ola Electric and Reliance New Energy an extension to complete their respective projects by 2031, while the third beneficiary, Rajesh Exports, was not given one in light of the Sebi investigation.

The extension applied only to companies that won contracts in the first round in 2022. Reliance secured another 10GWh in a subsequent round in September 2024, with a gestation period until July 2027 and incentives running until 2032. That allocation has not received any extension.

The tender for grid-scale energy storage is significant because it is critical for storing surplus electricity and supplying it when demand rises. India routinely curtails solar generation during peak daylight hours because of inadequate storage capacity, forcing renewable power to be backed down when the grid cannot absorb the excess.

BESS, seen as critical to the global shift away from fossil fuels, are also key to India’s energy transition. They store electricity and feed it into the grid during peak demand. India aims to achieve 500GW of non-fossil fuel capacity, including wind and solar, by 2030.

About the Author

Manas is a New Delhi-based journalist with Mint, where he covers the intersection of economic policy, industry, and emerging sectors shaping India’s growth. He writes on government regulation, manufacturing, and the clean energy transition, with particular depth in areas such as electric mobility, battery ecosystems, and rare-earth supply chains. He has written on India’s efforts to build domestic capacity in electric vehicles and energy storage, as well as the broader push to reduce import dependence and strengthen supply chain resilience. His reports are not limited to capturing the headline; they also aim to explain complex policy simply.<br><br>Manas has studied law in Pune, the city where he grew up, followed by a business journalism diploma from the Asian College of Journalism in Chennai. In his almost two years of being a correspondent for Mint, Manas has reported as major wars unfolded, a general election brought surprises for both the ruling party and the Opposition, and three Union Budget announcements where India has charted its economic course for the days to come.<br><br>On vacation, Manas plays bass guitar with his friends in Space & Co, their jam-rock band. He also likes cats, and occasions of late-night snacking.