Public sector electrical major Bharat Heavy Electricals Limited (BHEL) is in dialogue with Libcoin to form a world class consortium to set up a lithium ion battery plant in the country. The initial capacity of the plant is expected to be 1GWh which will be further scaled up to 30GWh in due course.
According to an official release, BHEL will be sending a team of senior officers for study of the facilities, R&D infrastructure and other techno-commercial issues soon. Based upon the evaluation and recommendations of the team, further process towards formation of Joint Venture will be carried forward. This project will bring energy independence by replacing oil imports with abundant renewable. This project also includes “Made by India, for India”, with focus on core-cost components manufactured domestically. It will also create integrated manufacturing ecosystem resulting in self-reliance and lower cost.