Waaree Energies Secures INR 1,003 Crore for Lithium-ion Facility

Waaree Energy Storage Solutions Pvt Ltd, a subsidiary of Waaree Energies Ltd, has announced the completion of a funding round totaling approximately INR 1,003 Crores. The funds were raised from strategic investors, including family offices, high-net-worth individuals, and institutional backers. This funding is part of a broader capital expenditure plan of INR 10,000 Crores aimed at establishing a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility.

The new manufacturing plant will focus on producing high-performance cells and battery packs. These products are intended for utility-scale storage systems, electric mobility, and distributed energy applications. The facility represents a significant step in Waaree Group’s integrated renewable manufacturing roadmap, complementing its existing solar manufacturing capabilities.

The investment supports Waaree’s evolution into a fully integrated energy transition player. The company is expanding its capabilities across solar modules, inverters, batteries, energy storage systems, and emerging clean energy technologies. The integration of storage manufacturing enhances Waaree’s ability to deliver comprehensive solutions essential for grid stability and renewable energy penetration.

The 20 GWh plant is expected to play a crucial role in achieving India’s strategic objectives of increasing domestic manufacturing in energy storage technologies and reducing reliance on imports. The facility will contribute to strengthening domestic supply chains and supporting the growth of India’s energy storage capacity.

Waaree Energies Ltd is focused on renewable energy solutions, including solar modules and energy storage systems. The company is committed to advancing its manufacturing capabilities to support India’s clean energy transition and energy security goals. Waaree’s strategic initiatives aim to enhance local manufacturing, employment, and technological innovation in the energy sector.