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					</table><p><a href="https://www.ayanapower.com/">Ayana Renewable Power</a> has invited expressions of interest (EOIs) to select a joint venture partner for setting up an advanced chemistry cell (ACC) manufacturing facility with an initial annual capacity of 2 GWh to 2.5 GWh.</p>
<p>The manufacturing facility will be developed in phases at a single site, with provisions to scale its capacity to between 5 GWh and 10 GWh annually as market demand increases.</p>
<p>The bid submission deadline is October 1, 2026. Bids will be opened on October 6.</p>
<p>Only Indian companies or consortia of Indian companies can participate.</p>
<p>The proposed joint venture can manufacture different cell chemistries. However, applicants must demonstrate qualifying manufacturing capability in lithium iron phosphate (LFP) chemistry. The initial output is intended for grid-scale and commercial and industrial energy storage applications.</p>
<p>Ayana or its affiliate will hold 50% of the equity in the joint venture company, while the selected partner will hold the remaining 50%. In the case of a consortium, its special purpose vehicle will hold the partner&#8217;s stake.</p>
<p>The joint venture will be responsible for setting up, commissioning, and operating the ACC manufacturing facility, including phased conversion to containerized battery energy storage systems (BESS).</p>
<p>Its scope will include preparing the detailed project report; procuring plant and machinery; raw materials and consumables; managing the raw material supply chain; and designing, engineering, manufacturing, testing, and supplying ACC cells.</p>
<p>The joint venture will also sell cells, modules, and containerized BESS and handle warranty obligations, production scrap, and end-of-life materials in accordance with the Battery Waste Management Rules, 2022.</p>
<p>Ayana will provide 50% of the joint venture&#8217;s equity funding and facilitate access to customers, renewable energy and energy storage developers, and offtakers. It will also support the joint venture in arranging debt financing.</p>
<p>The selected partner will provide the other 50% of equity funding and make available the brownfield manufacturing facility, land, statutory clearances, manufacturing technology, process know-how, technical personnel, and associated intellectual property rights or licenses. It must also provide access to critical raw materials.</p>
<p>The joint venture must begin commercial production within 18 months of incorporation. The project must use an existing brownfield manufacturing facility that is constructed, statutorily cleared, and production-ready on the EoI submission date. Ayana will not consider greenfield proposals.</p>
<p>The selected partner must have at least 25 acres of contiguous land at the proposed site, zoned or permitted for industrial use. The land must either be owned by the applicant or leased from the government or a government or statutory industrial development agency. Privately leased land will not qualify.</p>
<p>Bidders must also have long-term access or tie-ups of more than five years for critical raw materials required for ACC or lithium-ion cell manufacturing. They must commit to progressively sourcing indigenous raw materials after operations stabilize, where technically and commercially feasible.</p>
<p>Bidders, or lead partner in the case of a consortium, must have continuously operated in battery cell manufacturing and/or battery manufacturing and sales for at least two years immediately preceding the EOI submission date.</p>
<p>They must own and operate an LFP cell pilot manufacturing line that has cumulatively produced at least 5 MWh of LFP cells. They must demonstrate manufacturing capabilities covering the complete process chain from input procurement and electrode preparation to cell assembly, formation, ageing, end-of-line testing, and finished products.</p>
<p>The cells must have been manufactured and tested according to applicable standards, including IEC 62619, IEC 62620, and UN 38.3, as applicable. They must also have been commercially deployed and their performance monitored.</p>
<p>Bidders must possess or have valid rights to provide the manufacturing technology for the proposed facility. The technology must be free from third-party intellectual property infringement claims, and the applicant must demonstrate the capability to adapt and upgrade the technology.</p>
<p>They must have a group-level net worth of at least ₹3 billion (~$31.3 million) based on the latest audited financial statements.</p>
<p>They must have recorded turnover of at least ₹250 million (~$2.6 million) specifically from battery sales and cell manufacturing in any one of the previous two audited financial years.</p>
<p>Bidders must also have an available non-fund-based bank guarantee limit of at least ₹250 million (~$2.6 million) with scheduled commercial banks in India.</p>
<p>They must have reported a positive profit after tax in at least two of the previous three audited financial years and must not have accumulated losses that erode their net worth.</p>
<p>In February last year, ONGC NTPC Green, a joint venture between ONGC Green and NTPC Green Energy, <a href="https://www.mercomindia.com/ongc-ntpc-joint-venture-acquires-ayana-renewable/" target="_blank" rel="noopener">signed</a> a share purchase agreement to acquire a 100% equity stake in Ayana Renewable Power for ₹195 billion (~$2.3 billion).</p>


Ayana Seeks Partner for 2.5 GWh Battery Cell Manufacturing Facility


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					</table><p>The Ministry of Heavy Industries (<a href="https://heavyindustries.gov.in/" target="_blank" rel="noopener">MHI</a>) has issued a request for proposals to select manufacturers to set up 10 GWh manufacturing capacities for Advance Chemistry Cell (ACC) under the Production Linked Incentive (PLI) program.</p>
<p>The tender follows MHI’s <a href="https://www.mercomindia.com/ministry-retender-20-gwh-battery-pli" target="_blank" rel="noopener">announcement</a> that it would re-issue the tender for the unallocated 20 GWh capacity under the ‘National Program on ACC Battery Storage.’</p>
<p>In 2021, the government had <a href="https://www.mercomindia.com/dhi-issues-details-pli-program" target="_blank" rel="noopener">approved</a> the technology-agnostic PLI program to implement 50 GWh of ACC manufacturing with an outlay of ₹181 billion (~$2.18 billion).</p>
<p>The initial bidding for the ACC Energy Storage PLI Program <a href="https://www.mercomindia.com/reliance-ola-hyundai-rajesh-exports-win-bid-50-gwh-acc" target="_blank" rel="noopener">concluded</a> in March 2022, with Ola Electric Mobility, Hyundai Global Motors, Reliance New Energy, and Rajesh Exports securing bids to set up 50 GWh capacity. However, Hyundai Global Motors opted to withdraw from bidding, leaving behind an unallocated capacity of 20 GWh.</p>
<p>The last date to submit bids is April 22, 2024. Bids will be opened on April 23.</p>
<p>The tender has a maximum budgetary outlay of ₹36.2 billion (~$435.63 million).</p>
<p>Selected bidders must commit to setting up an ACC manufacturing facility with value addition of a minimum of 25% within two years from the appointed date and a minimum of 60% value addition within five years from the appointed date. They must also establish a manufacturing capacity of 5 to 10 GWh within five years from the appointed date, and only then will they be ranked from the highest to the lowest based on their technical score.</p>
<p>The subsidy disbursement will commence only once the proposed committed capacity and value addition levels are achieved, and the sale of the ACC begins. The disbursement will be phased over a five-year window, payable quarterly, as per the program agreement signed between the government and the selected bidder.</p>
<p>Bidders must pay a non-refundable sum of ₹450,000 (~$5,415) as the bidding cost. They must also submit a bid security amount of ₹100 million (~$1.2 million) in the form of a bank guarantee issued by a nationalized bank or a scheduled bank in India with a net worth of at least ₹10 billion (~$120.35 million).</p>
<p>The bidding process will be held online through a transparent two-stage process under the quality and cost-based selection mechanism.</p>
<p>If the bidder is not an Alternative Investment Fund or Foreign Investment Fund, they should have a minimum net worth of ₹2.25 billion (~$27.08 million) per GWh.</p>
<p>If the bidder is an Alternative Investment Fund or Foreign Investment Fund, it should have a minimum annual capital for investment of ₹2.25 billion (~$27.08 million) per GWh at the close of the preceding financial year.</p>
<p>Bidders can bid for any capacity if their net worth is at least ₹15 billion (~$180.54 million).</p>
<p>Bidders who have participated in the previous tender issued in 2021 will also be eligible to participate in this tender, provided that the maximum capacity that may be allocated to such bidders, inclusive of the capacity allocated previously, does not exceed 20 GWh.</p>
<p>Qualification is open to persons from any country. If the bidders belong to any other country other than India, 25% or more of the aggregate issued subscribed and paid-up equity share capital in the bidder or its member is held by persons resident outside India. Alternatively, at any subsequent stage after the bid date, there is an acquisition of 25% or more of the aggregate issued, subscribed, and paid-up equity share capital or control by persons resident outside India.</p>


Government Retenders 10 GWh of Battery Cell Capacity Under PLI Program

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