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Commerce Ministry Proposes Anti-Dumping Duty on Solar Glass Imports

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The commerce ministry proposal recommended imposing an anti-dumping duty of up to $677 per ton on imports of specific types of solar glass from China and Vietnam.

The Commerce Ministry proposal aims to protect domestic producers and ensure fair competition in the market.

The Findings

The Directorate General of Trade Remedies (DGTR), a department under the ministry of commerce, conducted a preliminary investigation and found that certain solar glass products, specifically textured toughened (tempered) coated and uncoated glass were being imported into India at prices below their normal value.

This practice, known as dumping, has harmed domestic manufacturers.

According to the DGTR’s notification, the imports have caused material injury to the Indian industry. As a result, the authority has recommended the imposition of a provisional anti-dumping duty on these products.

Impact on Domestic Industry

The domestic industry, including companies like Borosil Renewables Ltd, has made significant investments to manufacture solar glass in India, supporting the country’s push for self-reliance in the sector.

The recommended anti-dumping duties are seen as a necessary step to safeguard these investments.

The downstream industry is expected to experience minimal impact from the duties, with the potential cost increase being only 2.52%.

Experts have deemed the negligible effect on downstream businesses insignificant compared to the broader benefits of fair trade and protection for local manufacturers.

Duty Range

The proposed anti-dumping duties would range from $565 per ton to $677 per ton. While the DGTR has made its recommendation, the final decision to impose the duties rests with the ministry of finance.

Borosil Renewables Ltd, representing the domestic industry, prompted the DGTR’s investigation with a request.

Countries carry out anti-dumping investigations as a routine process to determine if cheap imports are damaging local industries.

If the investigation confirms injury to domestic producers, countries are allowed to impose
anti-dumping duties under the World Trade Organization (WTO) framework to maintain fair trading practices.

Ongoing Anti-Dumping Efforts

The recommendation adds to India’s ongoing efforts to counter unfair trade practices.

The country has already imposed anti-dumping duties on several products imported from various countries. This includes imports from China, aimed at safeguarding its domestic industries.

As reported by ndtvprofit.com, he proposed duty on solar glass imports is another step in protecting India’s self-sufficiency and ensuring a level playing field for local producers.

Serentica Renewables to Launch Renewable Energy Projects in Andhra Pradesh

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Serentica Renewables, a renewable energy developer in India, announced ambitious plans to establish renewable energy projects in Andhra Pradesh with a combined capacity of ten gigawatts (GW).

The move positions Serentica as one of the fastest-growing green energy companies in the country. The company is making a significant shift toward round-the-clock (RTC) and other advanced green energy solutions much earlier than many of its competitors.

Renewable Energy Growth

Andhra Pradesh, aiming to reach 72 GW of renewable energy capacity by 2030, is rapidly emerging as a key region for renewable energy development.

The state’s forward-looking policies create new opportunities for companies like Serentica to make a substantial impact in the green energy sector.

Bold Commitment

Pratik Agarwal, Chairman, of Serentica Renewables said, “Andhra Pradesh holds immense renewable energy potential, and our 10 GW commitment is a bold step toward unlocking it. This project will provide reliable, round-the-clock green power, supporting both regional growth and India’s vision for a sustainable, energy-secure future”.

The Portfolio

Akshay Hiranandani, CEO, of Serentica Renewables stated, “Our 10 GW development builds on our proven track record of executing complex renewable projects. By combining solar, wind, and storage technologies, we are developing round-the-clock projects to ensure green power on a 24×7 basis”.

Strategic Goal

Serentica has set an ambitious target to develop 17 GW of round-the-clock renewable energy projects. These will be complemented by 5,000 MWh of energy storage by 2030.

To meet the growing demand for uninterrupted green energy, the company plans to make 4 GW of capacity operational. This will be achieved by 2025.

A Partnership

In addition to its projects in Andhra Pradesh, Serentica has collaborated with the Greenko Group. The collaboration includes an energy storage capacity offtake contract.

The partnership will utilize 1,500 MWh from upcoming renewable projects in Andhra Pradesh and Madhya Pradesh. It will also include an additional 3,500 MWh of battery storage to ensure the reliability and availability of green energy.

The Vision

To deliver fifty billion units of renewable energy annually by 2030, Serentica is committed to driving industrial decarbonization.

The company aims to make renewable energy the primary source of power for large-scale,
energy-intensive industries, enabling their transition to cleaner, more sustainable energy solutions.

Global Investment

To support its ambitious plans, Serentica has already secured $650 million in investments from global investor KKR.

As reported by saurenergy.com, the financial backing underscores the company’s commitment to revolutionizing India’s energy sector. It also highlights its role in advancing the transition to a clean energy future.

INOX India Partners with Highview Power for Liquid Air Energy Storage Project

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INOX India Ltd (INOXCVA) secured a major contract from Highview Power, UK, for its Liquid Air Energy Storage (LAES) project in Carrington, Manchester.

Under the agreement, INOXCVA will supply five vertical 690kl high-pressure EN design vacuum-insulated cryogenic tanks. These will be the largest shop-fabricated vacuum-insulated industrial gas tanks the company has ever produced.

This deal marks a significant milestone in INOXCVA’s growth and cements its presence in the rapidly expanding energy storage industry, especially in the global cryogenic equipment market.

A Key Partnership

Siddharth Jain, Promoter and Non-Executive Director, INOX India Ltd, expressed happiness over the partnership with Highview Power.

He highlighted the project’s potential to revolutionize the renewable energy sector, emphasizing INOXCVA’s technological expertise in cryogenic solutions.

Jain also reaffirmed the company’s commitment to investing in the UK’s energy storage infrastructure and driving the shift toward cleaner energy sources.

Net Zero Vision

Richard Butland, Co-Founder and CEO, of Highview Power stressed that the partnership aligns with Highview Power’s objective of achieving net zero emissions in the UK.

A critical role is set to be played by the Carrington project in transforming the UK’s renewable energy storage capacity, which will be essential for supporting the country’s net-zero goals.

A Game-Changer

Highview Power is building the world’s first commercial-scale LAES long-duration energy storage facility in Carrington, Manchester, using its proprietary technology.

Once operational, the facility will have the capacity to store 300 MWh of energy. It will  discharge 50 MW for up to six hours.

The innovative project will address the intermittent nature of renewable energy sources. It will ensure that the UK’s energy grid remains stable and resilient.

As reported by manufacturingtodayindia.com, renewable energy continues to grow. The Carrington LAES project will become a vital part of the infrastructure needed to ensure consistent and reliable energy storage. It will contribute significantly to the UK’s broader goal of achieving Net Zero emissions.

ADNOC and AIQ Collaborate on Pioneering Agentic AI Solution for Global Energy Transition

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At the ADIPEC conference, ADNOC and AIQ unveiled ENERGYai, the world’s first custom-built agentic artificial intelligence (AI) solution designed specifically for the global energy transformation.

The innovation combines large language models with advanced ‘agentic’ AI, offering a transformative approach to energy sector tasks.

Introducing Agentic AI

ENERGYai integrates cutting-edge AI agents tailored to ADNOC’s value chain. This brings a new level of autonomy and precision to critical operations.

These agents are trained in specialized tasks, including seismic analysis, energy efficiency optimization, and real-time process monitoring.

ENERGYai harnesses state-of-the-art machine learning and predictive analytics to enhance decision-making. It improves operational efficiency by seamlessly integrating into existing workflows.

Data-Driven Sustainable Future

The launch highlights ADNOC’s ongoing commitment to advancing sustainable, data-driven solutions that set new standards in the energy industry.

The ENERGYai system is the result of a collaboration between AIQ, G42, and Microsoft.

Together, they have integrated leading-edge technologies such as Open Subsurface Data Universe (OSDU) frameworks and OpenAI models to maximize the system’s potential.

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director, emphasized, “ENERGYai marks a key milestone in ADNOC’s journey.” He added, “It is a step toward becoming the world’s most AI-enabled energy company.” This innovation will drive value creation and sustainable energy production. It will enable us to utilize our vast data more effectively, unlocking new solutions across our value chain. As AI accelerates industry progress, ENERGYai will ensure ADNOC remains at the forefront of AI deployment. It will help provide secure and sustainable energy to the world.

AI-Driven Energy Transformation

Peng Xiao, Group CEO of G42 stated, “ENERGYai embodies G42’s dedication to transforming global energy through AI. By combining ADNOC’s leadership and rich historical data with G42’s advanced AI capabilities, we are laying the groundwork for a sustainable energy future. This collaboration with Microsoft allows us to offer real-time, data-driven insights that enhance energy efficiency, resilience, and sustainability”.

A Net-Zero Future

Darryl Willis, Corporate Vice President of Microsoft, highlighted, “AI technologies can improve safety, reliability, and efficiency across both traditional and renewable energy sectors.” He added, “By partnering with ADNOC and AIQ, we aim to deliver AI-powered solutions that drive economic growth, enhance energy security, and support the transition to a net-zero future.”

Development and Impact

ENERGYai is being developed on the foundation of ADNOC’s 80 years of data, and its three-year development program will start testing with real-world datasets by the end of 2024.

It is expected that ENERGYai will enhance the efficiency of geological modelling for large-scale CO2 storage solutions, accelerating the process by up to 75%.

The AI system will also optimize planning, reducing the time required from 1-2 years to just weeks, while minimizing costs and emissions.

By analyzing multiple scenarios simultaneously, ENERGYai enables the faster and more accurate execution of detailed simulations.

This capability helps make informed decisions, ultimately driving efficiency throughout the entire value chain.

The system’s scalable design ensures smooth integration with ADNOC’s existing technologies and platforms in the downstream sector.

Energy-Focused AI

Since 2020, AIQ has been working closely with ADNOC to create specialized solutions for the energy sector.

Together, they have positioned the UAE as a leader in AI applications for energy.

As per the press release, the launch of ENERGYai sets a new benchmark in the global energy industry. It solidifies ADNOC’s role in shaping the future of energy with cutting-edge AI technologies.

TERI Recommends Formation of Green Hydrogen Procurement Entity for India

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In a move to accelerate the development of a competitive green hydrogen market in India, The Energy & Resources Institute (TERI) has recommended establishing a central procurement agency, modeled after the Solar Energy Corporation of India (SECI).

The proposed entity would focus on sourcing green hydrogen for various industries through long-term contracts, helping to drive the decarbonization of the steel, fertilizer, and other hard-to-abate sectors.

Green Hydrogen Market

In its recent report on leveraging green hydrogen for industrial decarbonization, TERI noted the absence of a structured green hydrogen market in India.

This lack is largely due to the minimal demand for green hydrogen-derived goods and services to replace carbon-emitting fossil fuels.

Existing support schemes like the SIGHT Programme and Production Linked Incentive (PLI) scheme, TERI argues, may fall short of achieving a meaningful impact without a foundational green hydrogen market.

Ensuring Investor Confidence

According to TERI, investor confidence hinges on assurances of steady, long-term demand within a viable price range that ensures returns.

Potential investors must secure both equity and debt, which rely on lenders’ independent assessments.

TERI emphasized the importance of long-term contracts at competitive prices, citing the solar sector’s success, where long-term agreements have fostered extensive private sector participation and facilitated financing.

Competitive Procurement

TERI’s report advocates setting up a framework for green hydrogen procurement from a designated future date. This should be synchronized with the expected demand. The demand comes from various industrial projects currently in development.

This approach, TERI suggests, would stimulate competitive production capacity and support cost reduction over time.

Conducting bidding rounds for hydrogen supply in tandem with each downstream project’s commissioning would lower costs, eventually cultivating a robust, competitive market for green hydrogen.

Proposal for an SPV

To streamline the procurement process, TERI proposes creating a special purpose vehicle (SPV) similar to SECI.

This SPV would manage green hydrogen procurement for each downstream project through individual long-term contracts.

TERI noted that SECI’s competitive procurement model has successfully driven India’s solar costs down to some of the lowest in the world.

The institute believes they can replicate this success for green hydrogen, facilitating the supply of carbon-neutral inputs to hard-to-abate sectors.

Tailoring SPVs

TERI further recommends that each industrial segment undertaking green hydrogen pilot projects should have its own SPV. The relevant Ministry should oversee this SPV.

TERI suggests launching pilot plants for sectors with proven, mature technologies. This should be done through long-term procurement contracts.

As reported by thehindubusinessline.com, this would mitigate investment risk. It would enable companies to focus on plant operation and productivity, without concerns about green hydrogen supply and pricing.

India Signs Host Country Agreement with Global Biofuels Alliance

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In a major step for the renewable energy sector, India has signed the Host Country Agreement (HCA) with the Global Biofuels Alliance (GBA).

The agreement will facilitate the establishment of the GBA’s Secretariat in India, marking a significant milestone for the country’s role in the global biofuels industry.

GBA Secretariat in India

The agreement allows the GBA to set up its secretariat in India, staffing it with both Indian and international personnel.

The development is a crucial move towards the GBA’s goal of promoting biofuels and enhancing their global presence.

By setting up the secretariat in India, the GBA will be able to streamline its operations and focus more effectively on its mission.

Legal Status

The HCA grants the GBA legal status and immunities under the United Nations (Privileges and Immunities) Act of 1947.

This ensures the smooth operation of the GBA in India while complying with the country’s laws.

The provision guarantees that the alliance will be able to carry out its functions without legal hurdles, making it more efficient and effective in its work.

The Launch

The GBA was officially launched on September 9, 2023, during India’s G20 Presidency.

The launch was spearheaded by India’s Prime Minister alongside leaders from eight other founding nations: Argentina, Bangladesh, Brazil, Italy, Mauritius, Singapore, the UAE, and the USA.

The collaboration among multiple nations highlights the importance of biofuels in the global transition to sustainable energy sources.

Goals and Objectives

The GBA has clear objectives to increase global biofuel usage, particularly by addressing key challenges such as feedstock availability and improving the biomass supply chain.

Additionally, it seeks to attract investments in biofuel production and clean cooking solutions.

One of GBA’s key priorities is to establish common technical standards for biofuels, ensuring that the industry grows with uniformity and reliability.

Rapid Membership Growth

Since its inception, the GBA has grown significantly, with membership now reaching 27 countries and 12 international organizations.

The rapid expansion reflects the growing global interest in sustainable biofuel solutions and underscores the Alliance’s importance in advancing global energy goals.

New Opportunities

With the GBA secretariat now in India, there will be numerous opportunities for Indian experts in the biofuels industry.

The establishment of the secretariat provides a platform for Indian professionals to contribute to the global biofuels agenda.

It also offers an avenue for India’s private sector to showcase its innovations and expertise in this rapidly growing field.

Self-Reliance Alignment

The agreement aligns with India’s vision of a self-reliant India.

By supporting local capabilities in the biofuels sector, India is not only strengthening its position as a key player in the global biofuels market but also contributing to worldwide efforts to create sustainable energy solutions.

As reported by currentaffairs.adda247.com, the development underscores India’s commitment to both national and global sustainability objectives.

Climate Policies to Cut Four Billion Tons of Carbon Dioxide by 2030: CEEW Study

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India’s climate policies are making significant strides in curbing emissions, potentially reducing carbon dioxide (CO2) emissions by nearly four billion tonnes between 2020 and 2030, according to a recent study by the Council on Energy, Environment and Water (CEEW).

The reduction is equivalent to approximately 1.6 times the European Union’s 2023 CO2 emissions, reflecting India’s accelerated progress toward its ambitious climate goals.

At COP26 in Glasgow, India pledged to cut emissions by one billion tons by 2030, and this study shows it is well on its way to surpassing that target.

Major Emissions Savings

CEEW’s study, titled Impact of Select Climate Policies on India’s Emissions Pathway, reveals that India’s climate policies across the power, residential, and transport sectors collectively saved 440 million tons of CO2 (MtCO2) from 2015 to 2020.

Among these, the power sector has achieved the highest emissions reductions due to its dominant share of national carbon emissions. With expanded decarbonization efforts, this sector is expected to continue leading India’s journey toward a 2070 net-zero goal.

A First-of-Its-Kind

CEEW’s assessment highlights how India’s policies are reshaping the country’s energy landscape.

Measures promoting renewable energy, energy efficiency, and electric mobility have led to an increase in renewables in the energy mix. They have also resulted in the adoption of electric vehicles and enhanced efficiency in air conditioning and lighting.

Key initiatives such as the national solar mission, FAME I & II schemes, and the standards and labelling scheme continue to impact energy demand. The UJALA program also plays a role in reducing emissions.

Renewables Drive

The study projects a 24% decline in coal-based electricity generation by 2030, thanks to policies promoting renewable energy. This translates to avoiding 80 gigawatts (GW) of coal-based power plants that would otherwise be needed to meet India’s energy demands.

Currently, India’s installed renewable energy capacity (excluding large hydro) stands at around 155 GW.

By 2030, the share of solar and wind power in the energy mix is expected to rise to 26% and reach 43% by 2050, compared to just 3% in 2015.

This shift is set to significantly reduce reliance on coal, which is responsible for nearly half of India’s carbon emissions.

Global Support

Dr. Arunabha Ghosh, CEO of CEEW mentioned, “The road to net zero needs bolder action, and the foot cannot be taken off the pedal now. To enable the Global South’s efforts, COP29 must ensure climate finance flows to developing countries like India, without riders.”

The financial support would further strengthen renewable markets and accelerate a sustainable future worldwide.

Electric Mobility

In the transport sector, policies like the FAME schemes have laid the groundwork for the growth of electric vehicles (EVs) in India.

By 2030, electric two-wheelers and four-wheelers are projected to make up 19% and 11% of their market segments, respectively.

This shift could reduce oil and gas demand by 13% within this decade. By 2050, EV adoption rates are expected to exceed 65% in both categories. It will result in a 55% reduction in oil and gas demand, as compared to a scenario without these policies.

Energy Efficiency

The 2006 standards and labelling program has enhanced energy efficiency in air conditioning and cooling. This is essential, as electricity consumption for cooling in Indian households is projected to double between 2020 and 2030. It is then expected to increase nearly tenfold by 2050.

This rise will be driven by higher temperatures, rising incomes, and reduced electricity costs stemming from increased renewable energy penetration.

Additionally, the UJALA program has distributed over 367 million energy-efficient LED bulbs since 2015. It is expected to cut residential lighting electricity consumption by 48% by 2030 and 59% by 2050.

The press release stated that India can continue bending its emissions curve toward a sustainable, net-zero future. This can be achieved by building on robust policies and making strategic investments, while safeguarding its energy security.

Best Agrolife Secures Approval for Two Crop Protection Products

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Best Agrolife Group, a brand into innovative crop protection solutions, received regulatory approval for two new products: the patented herbicide ‘Shot Down’ and the advanced under-patent insecticide ‘Bestman’.

With approval secured, the company is set to launch these products in Q4 FY24. Bestman is expected to find immediate traction during the rabi season. Shot Down will enter the market for the kharif season.

These product launches align with the company’s commitment to introducing 2-3 patented products annually.

In H1 FY24, Best Agrolife successfully introduced three other products – nemagen, defender, and warden extra – and looks forward to further strengthening its market position with these latest innovations.

Targeting Key Market Segments

The advanced herbicide, Shot Down, formulates haloxyfop-R-methyl and imazethapyr in a microemulsion (ME) composition, providing a powerful solution against invasive weeds.

The design of the product specifically benefits groundnut and soybean farmers by improving crop yields and reducing weed-related crop losses.

The Launch

Set for an early 2025 debut, Bestman is an advanced insecticide. It is composed of fipronil, abamectin, and tolfenpyrad in a suspension concentrate (SC) formulation.

This powerful combination effectively combats common pests, including aphids, thrips, and mites. It also targets the notorious fruit borer, which poses significant challenges for chilli farmers.

Launching at the peak of chilli crop season, Bestman will help farmers achieve higher yields and reduce crop damage.

Sustainable Agriculture

The regulatory milestone marks another step in Best Agrolife Group’s mission to promote sustainable agriculture through indigenous innovation.

With continued investment in R&D and product development, the company aims to support the Indian government’s Aatmanirbhar Bharat initiative. It seeks to reduce dependence on imported agrochemicals and enhance domestic crop protection solutions.

As per the press release, Best Agrolife Ltd (BAL) has manufacturing capacities of 7,000 MTPA for technicals and 35,500 MTPA for formulations. The company spreads these capacities across three manufacturing plants located in Gajraula, Greater Noida, and Jammu & Kashmir.

Vedanta and OIL Bag Critical Mineral Blocks

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In a successful fourth round of auctions for critical and strategic mineral blocks, the Vedanta Group and Oil India Ltd (OIL) emerged as the top winners, securing a range of valuable mineral deposits.

The auction, launched by the ministry of mines, has generated significant interest and marks a new chapter for India’s mineral auction landscape.

Vedanta’s Four Blocks

Vedanta Group bagged four blocks in the auction, highlighting its strong foothold in the critical minerals sector.

Among the blocks won, Vedanta secured a vanadium and graphite mine in Arunachal Pradesh, as well as a cobalt, manganese, and iron (poly-metal) mine in Karnataka.

Hindustan Zinc Ltd (HZL), a subsidiary of Vedanta, bagged two important blocks: one for tungsten and associated minerals in Andhra Pradesh, and another tungsten mine in Tamil Nadu.

These wins add to Vedanta’s earlier success in previous rounds of the auction, where it secured two critical mineral blocks in Karnataka and Bihar.

Oil’s Stake

OIL also made a significant mark in the auction, bagging a graphite and vanadium block in Arunachal Pradesh. This victory bolsters OIL’s presence in the critical minerals market and strengthens its portfolio of mineral assets.

Other Winners

In addition to Vedanta and OIL, two private companies, Mamco Mining Pvt Ltd and Orissa Metaliks Pvt Ltd, successfully secured blocks in this round.

These companies’ participation further diversifies the auction’s success and indicates increasing interest in India’s mineral resources.

A Successful Process

The ministry of mines successfully concluded the auction of eight critical mineral blocks, as part of the fourth tranche of auctions for critical and strategic minerals.

The auction attracted strong industry interest, following the issuance of the notice inviting tender (NIT) for 21 mineral blocks on June 24.

The auction process saw technical bids evaluated, with ten mineral blocks advancing to the second round of the e-auction.

Of these, three were first-attempt blocks, while seven were second-attempt blocks.

These blocks contain strategic minerals such as phosphorite, graphite, and vanadium, all essential for high-tech and green energy applications.

Future Auctions

With the completion of this auction, the total number of successfully auctioned critical and strategic mineral blocks has reached 22. The fourth round also marked several milestones, including the successful auction of tungsten and cobalt blocks for the first time.

The auction process for the remaining two blocks will be completed by December 2.

As reported by hindustantimes.com, this round of auctions has introduced the Northeast region to India’s mineral auction landscape, with four maiden blocks auctioned in the area.

MGL Diversifies into Lithium-ion Cell Manufacturing

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Mahanagar Gas Limited (MGL) entered a share subscription agreement (SSA) and a shareholding agreement (SHA) with International Battery Company, Inc. (IBC US).

The partnership aims to create a joint venture by jointly investing in International Battery Company India Private Limited (IBC), currently a fully owned subsidiary of IBC US.

This decision follows a non-binding term sheet signed between the companies on October 7, 2024.

 MGL and IBC US will establish a cutting-edge lithium-ion cell manufacturing facility in Bangalore to meet India’s growing demand for energy storage solutions.

Lithium-Ion Cell Development

IBC US has been at the forefront of lithium-ion cell technology. It operates a state-of-the-art pilot facility in Seoul, South Korea, where it focuses on developing and producing prismatic NMC cells designed specifically for India’s needs.

The company’s cells have received essential certifications, including UN 38.3, BIS, and AIS, ensuring compliance with global standards.

IBC US developed these cells with features crucial for the Indian market, such as long warranty periods, rapid charging capabilities, enhanced safety, reliable performance in high temperatures, recyclability, and seamless integration into battery packs.

These cells are currently undergoing customer qualification trials with Indian partners, underscoring IBC’s commitment to adapting its technology for India.

Technologically Advanced Plant

To address the needs of the Indian market, MGL and IBC US will establish a state-of-the-art giga factory in Bangalore.

The facility, which will initially produce prismatic NMC lithium-ion cells, aims to cater to the mobility and battery storage sectors in India.

MGL plans to acquire at least a 40% stake in IBC, reinforcing its commitment to the venture.

Notably, the plant will be technology-agnostic, allowing flexibility for future developments and innovations in energy storage technology.

The Commitment

 Ashu Shinghal, MD, MGL said, “MGL has long been a leader in India’s energy landscape as a prominent city gas distribution company.ogas (CBG), and electric vehicle (EV) manufacturing align with our vision for a cleaner future. This entry into battery cell manufacturing further strengthens our role in the renewable energy sector. Working with IBC US will allow us to establish an indigenous supply of battery cells. Currently, India relies on imports for these cells. This collaboration will boost India’s competitiveness and contribute to the ‘Make in India’ initiative.”.

IBC’s Vision

IBC’s CEO, Priyadarshi Panda, added, “IBC is a global leader in lithium-ion cell production with cutting-edge expertise in prismatic cell development. Backed by investors like RTP Global, BEENEXT, Shastra VC, Falcon X, and JASTECH, we have designed our market-ready product. It is tailored to address the unique challenges of Indian consumers and OEMs. Our collaboration with MGL marks a significant step towards creating one of India’s first giga factories for the advanced prismatic form factor. This will reduce reliance on imports and secure the lithium-ion supply chain. It is crucial for India’s journey towards energy independence.”

Pioneering Cell Manufacturing

MGL’s robust infrastructure and extensive experience in scaling energy production and operations in India form the foundation of this collaboration. IBC’s leadership in advanced battery technology also plays a key role. It promises to create significant impacts.

As reported by indianpsu.com, the partnership will support India’s ambitions for clean, self-sufficient energy solutions. The venture sets a new precedent for indigenous battery cell production. It is poised to benefit millions of consumers and strengthen India’s energy independence.

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