Waaree Energies announced a successful fundraise of ₹1,003 crore through its subsidiary, Waaree Energy Storage Solutions. As reported by devdiscourse.com, the company is building on its strong presence in renewable energy. It is now expanding across the energy storage value chain. Through this expansion, it aims to play a larger role in India’s decarbonisation and grid modernisation efforts.
Capital to Support Large-Scale Manufacturing Plans
The capital will play a critical role in advancing Waaree’s ambitious ₹10,000-crore plan to establish a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. The company aims to deliver high-performance energy storage solutions through the project. These solutions will cater to utility-scale applications, electric mobility, and distributed energy systems. At the same time, the investment positions Waaree to scale its manufacturing footprint in line with rising domestic and global demand for battery storage.
Accelerating Commissioning and Domestic Supply Chains
Ankit Doshi, Director at Waaree Energy Storage Solutions, said the funding will accelerate the commissioning of the new plant. He added that the project will strengthen domestic supply chains while significantly expanding India’s energy storage manufacturing capabilities. By localising advanced battery production, Waaree aims to reduce import dependence and support the country’s clean energy and electric mobility goals.
Advancing Waaree’s Energy Transition Strategy
The investment marks an important milestone in Waaree’s evolution into a fully integrated energy transition player. As reported by devdiscourse.com, the company is building on its strong presence in renewable energy. It is now expanding across the energy storage value chain and aims to play a larger role in India’s decarbonisation and grid modernisation efforts.
