Waaree Energies on Monday said that its arm Waaree Energy Storage Solutions raised ₹1,003 crore from a cluster of strategic investors, including family offices, high-net-worth individuals, and institutional backers.
The latest fundraise is part of the ₹10,000-crore capital expenditure plan aimed at setting up of a 20 GWh advanced, lithium-ion cell and battery pack manufacturing plant, the company said in a statement.
The proposed plant will focus on the production of high-performance cells and battery packs tailored for utility-scale storage systems, electric mobility, and distributed energy applications.
1 January 2026
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With this investment, the Waaree Group is rapidly evolving into a fully integrated energy transition player, spanning solar modules, inverters, batteries, energy storage systems, and emerging clean energy technologies.
The integration of storage manufacturing strengthens Waaree's ability to deliver end-to-end solutions critical for grid stability, renewable energy penetration, and decarbonisation at scale.
Ankit Doshi, Director, Waaree Energy Storage Solutions, said, "This successful fundraise underscores the confidence that our investor community places in our vision to build world-class energy storage manufacturing in India. With these strategic resources, we will fast-track the commissioning of our 20 GWh cells and battery pack facility, strengthen domestic supply chains, and contribute to the growth of India's energy storage capacity."
