Key Highlights
- Waaree Energy Storage Solutions raised around ₹1,003 crore from strategic investors.
- Funding supports development of a 20 GWh lithium-ion cell and battery pack manufacturing facility.
- Total announced capital expenditure for the project is approximately ₹10,000 crore.
- Facility will manufacture batteries for utility-scale storage, electric mobility, and distributed energy systems.
- Project strengthens domestic energy storage manufacturing and reduces import dependence.
Waaree Energies Limited announced that its subsidiary, Waaree Energy Storage Solutions Pvt Ltd, has completed a strategic fund raise of approximately ₹1,003 crore. The capital has been mobilised from a mix of strategic investors, including family offices, high-net-worth individuals, and institutional participants.
The funding forms part of Waaree Group’s broader capital expenditure plan of around ₹10,000 crore to establish a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility in India. The proposed plant is expected to play a significant role in supporting the country’s growing demand for energy storage, aligned with national clean energy and energy security objectives.
The upcoming facility will focus on manufacturing high-performance lithium-ion cells and battery packs designed for utility-scale energy storage systems, electric mobility solutions, and distributed energy applications. This expansion is positioned as a strategic addition to Waaree Group’s existing renewable manufacturing operations, strengthening its presence across the clean energy value chain.
With the latest investment, the group continues to progress toward becoming an integrated energy transition player, spanning solar modules, inverters, batteries, and energy storage systems. The addition of large-scale storage manufacturing is expected to enhance grid stability, support higher renewable energy penetration, and reduce dependence on imports in the energy storage segment.
Waaree Energy Storage Solutions stated that the 20 GWh manufacturing facility will also contribute to domestic manufacturing capabilities, employment generation, and technological development within India’s energy storage ecosystem.