Waaree Energy Storage Solutions (WESSPL), a subsidiary of Waaree Energies, has announced the successful completion of a major funding round totalling ~₹1,003 crore from a cluster of strategic investors, including family offices, high-net-worth individuals (HNIs), and institutional backers.
This fund raise is a part of the announced Capex of ~₹10,000 Crores for the establishment of a 20 GWh advanced lithium-ion cell and battery pack manufacturing plant. The 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.
With this investment, 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, WESSPL, said, “This successful fund raise 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. This initiative not only supports national sustainable energy goals but also enhances local manufacturing, employment, and technological innovation in the storage sector.”
