Inter-ministerial panel reviews strategy to buy lithium mines overseas

An inter-ministerial meeting, chaired by power minister R K Singh, discussed PLI scheme on Advanced Chemistry Cell Battery Storage, and also reviewed the strategy for acquiring lithium mines abroad.

An inter-ministerial meeting, chaired by power minister R K Singh, discussed the PLI scheme on Advanced Chemistry Cell Battery Storage, and also reviewed the strategy for acquiring lithium mines abroad.

According to a statement, officials from Ministry of Mines, Ministry of Coal, Ministry of Heavy industries, Ministry of External Affairs, Niti Aayog and senior officials from Power Ministry were present in the meeting.

The minister took an update on status of bids on production-linked incentive (PLI) scheme by Ministry of Heavy Industries and directed to expedite the PLI bid processes, it stated.

He further discussed the availability of lithium reserves in the world. He reviewed the probable locations where India can explore lithium mines.

"The process and mechanism acquiring mines varies in different countries and we need to prepare accordingly", he added.

The minister brought attention that India is a huge country in terms of energy requirements and hence our requirement for battery storage is also huge, and is estimated as 120 GWh by 2030, to support our 500 GW renewable capacity addition.

He further discussed future prospects and long term planning in view of our RE (renewable energy) targets.

India has a target of having 175 GW of renewable energy by 2022 which would be further scaled up to 500 GW by 2030.