Centre extends PLI-ACC project timelines to 2031 for Ola Electric and Reliance New Energy

India’s Ministry of Heavy Industries extended the deadline to complete PLI-ACC battery projects to 2031 for Ola Electric (committed 20GWh) and Reliance New Energy (5GWh) from the 2022 first-tranche awards, according to the ministry and government officials cited by Mint. The third first-tranche beneficiary, Rajesh Exports’ subsidiary ACC Energy Storage Pvt. Ltd, did not receive an extension; the ministry issued a show-cause notice and kept its request on hold pending a satisfactory response amid a Sebi investigation referenced in the report.