Waaree Goes Big on Storage: ₹1,003 Cr Raised for 20 GWh Plant

Waaree Energy Storage Solutions (WESSPL), a subsidiary of Waaree Energies, has raised approximately ₹1,003 crore from strategic investors, including family offices, high-net-worth individuals (HNIs), and institutional backers.

The funds will support the establishment of a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility, marking a significant step in India’s clean energy transition. The plant will produce high-performance cells and battery packs for utility-scale storage, electric mobility, and distributed energy applications. This expansion complements Waaree Group’s existing renewable energy portfolio, which includes solar modules and inverters, strengthening its position as an integrated energy transition player and supporting grid stability, renewable adoption, and decarbonization efforts.

Commenting on the funding, WESSPL Director Ankit Doshi said, “This successful fund raise underscores the confidence in our vision to build world-class energy storage manufacturing in India, contributing to national sustainable energy goals.”

News by Rahul Yelligetti.