{"id":510212,"date":"2022-07-29T15:41:48","date_gmt":"2022-07-29T10:11:48","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=510212"},"modified":"2022-07-29T15:41:48","modified_gmt":"2022-07-29T10:11:48","slug":"reliance-ola-electric-rajesh-exports-agree-to-build-batteries-in-india","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/reliance-ola-electric-rajesh-exports-agree-to-build-batteries-in-india\/","title":{"rendered":"Reliance, Ola Electric, Rajesh Exports agree to build batteries in India"},"content":{"rendered":"<p>Reliance Industries, Softbank Group-backed Ola Electric and Indian jewellery maker Rajesh Exports on Friday signed final agreements to build battery cells under a $2.3 billion government incentive program.<\/p>\n<p>Shares of Rajesh Exports rose as much as 5.9% to their highest since July 4 after the government&#8217;s statement on finalisation of the agreements.<\/p>\n<p>The companies were among four bidders selected by the government in March to build a total of 50 gigawatt hours (Gwh) of battery storage capacity under a production-linked incentive programme.<\/p>\n<p>India last year finalised the scheme to encourage companies to make battery cells locally as it seeks to establish a domestic supply chain for clean transport and renewable energy storage to meet its decarbonisation goals.<\/p>\n<p>The companies must set up their battery manufacturing facility within two years after which they will be eligible for incentives. These will be paid over a five-year period based on the sale of batteries manufactured in India, the government said in its statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reliance Industries, Softbank Group-backed Ola Electric and Indian jewellery maker Rajesh Exports on Friday signed final agreements to build battery cells under a $2.3 billion government incentive program. Shares of Rajesh Exports rose as much as 5.9% to their highest since July 4 after the government&#8217;s statement on finalisation of the agreements. The companies were among four bidders selected by the government in March to build a total of 50 gigawatt hours (Gwh) of battery storage capacity under a production-linked incentive programme. India last year finalised the scheme to encourage companies to make battery cells locally as it seeks to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-510212","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/510212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=510212"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/510212\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=510212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=510212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=510212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}