Mumbai, January 05, 2026: Waaree Energies Limited on Monday announced a major capital infusion into its energy storage vertical, with its subsidiary Waaree Energy Storage Solutions Pvt Ltd raising approximately ₹1,003 crore from a consortium of strategic investors.
The funding forms part of Waaree Group’s broader capital expenditure programme of around ₹10,000 crore aimed at setting up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility in India, marking a significant expansion beyond its established solar manufacturing base.
Strategic Expansion into Energy Storage
The upcoming facility will focus on producing high-performance lithium-ion cells and battery packs designed for multiple applications, including utility-scale energy storage systems, electric mobility solutions, and distributed energy deployments. This move positions Waaree Energy Storage Solutions as a key participant in India’s rapidly evolving energy storage ecosystem.The project is also expected to strengthen domestic supply chains for advanced battery technologies and reduce dependence on imported cells, aligning with the country’s broader push toward energy security and clean energy self-reliance.
Integrated Clean Energy Manufacturing Roadmap
With this investment, Waaree Group is advancing toward a fully integrated clean energy manufacturing model encompassing solar modules, inverters, batteries, and energy storage systems. The addition of large-scale storage manufacturing is expected to enhance the group’s ability to offer end-to-end renewable energy solutions, particularly as grid stability and storage-backed renewable capacity gain prominence.The energy storage expansion complements Waaree’s existing solar manufacturing operations and supports higher renewable energy penetration by enabling round-the-clock power availability and improved grid balancing.
Management Commentary
Commenting on the development, Ankit Doshi, Director at Waaree Energy Storage Solutions Pvt Ltd, said the successful fund raise reflects strong investor confidence in the company’s long-term vision for energy storage manufacturing in India. He added that the capital will be utilised to accelerate commissioning of the 20 GWh facility, deepen local manufacturing capabilities, and contribute meaningfully to employment generation and technological advancement in the storage sector.About the Company
Waaree Energies Limited is an India-based renewable energy company engaged primarily in solar module manufacturing and clean energy solutions. Through its energy storage subsidiary, the group is expanding into advanced battery cell and energy storage system manufacturing, with a focus on supporting grid reliability, renewable integration, and electrification initiatives across domestic and international markets.Source:
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