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Waaree Energy arm raises INR 1,003 crore to expand battery manufacturing in India

#Taxation & Finance News#Industrial#India
Last Updated : 6th Jan, 2026
Synopsis

Waaree Energy Storage Solutions has raised INR 1,003 crore from strategic investors as part of its INR 10,000-crore plan to build a 20 GWh lithium-ion cell and battery pack manufacturing plant. The facility will focus on high-performance cells for utility storage, electric mobility, and distributed energy applications. This move positions Waaree Group as a fully integrated energy transition player, enhancing its ability to provide end-to-end solutions for grid stability and renewable adoption. The investment will also strengthen domestic supply chains and boost India's energy storage capacity.

Waaree Energies recently announced that its subsidiary, Waaree Energy Storage Solutions, has secured INR 1,003 crore from a mix of strategic investors, including family offices, high-net-worth individuals, and institutional backers. This funding forms part of the company's larger INR 10,000-crore plan to establish a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility.


The planned plant is expected to produce high-performance cells and battery packs designed for utility-scale storage systems, electric mobility solutions, and distributed energy applications. Through this initiative, the Waaree Group is positioning itself as a fully integrated player in the energy transition sector, covering solar modules, inverters, batteries, energy storage systems, and emerging clean energy technologies.

The integration of storage manufacturing into its operations will enhance Waaree's ability to provide comprehensive solutions essential for grid stability, greater renewable energy adoption, and large-scale decarbonisation. Ankit Doshi, Director of Waaree Energy Storage Solutions, highlighted that the successful fundraise reflects strong investor confidence in the company's vision to develop world-class energy storage manufacturing in India. He added that the funding will accelerate the commissioning of the 20 GWh facility, strengthen domestic supply chains, and support the growth of the country's energy storage capacity.

Source PTI

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