Waaree Energy Storage Solutions Pvt Ltd, a subsidiary of Waaree Energies Ltd, has announced the successful completion of a strategic funding round worth approximately ₹1,003 crore to accelerate the development of a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility in India.
The investment forms part of Waaree Group’s planned capital expenditure of around ₹10,000 crore aimed at establishing large-scale, domestic energy storage manufacturing capabilities. The funding round saw participation from a mix of strategic investors, including family offices, high-net-worth individuals (HNIs) and institutional investors, highlighting growing confidence in India’s rapidly expanding energy storage sector.
The upcoming manufacturing facility will focus on producing high-performance lithium-ion cells and battery packs designed for a wide range of applications, including utility-scale energy storage systems, electric mobility solutions and distributed energy applications. The project is expected to play a critical role in strengthening India’s clean energy ecosystem while supporting national goals around energy security and decarbonisation.
With this expansion, Waaree Group is positioning itself as a fully integrated energy transition player, with capabilities spanning solar modules, inverters, batteries, energy storage systems and emerging clean energy technologies. The addition of large-scale storage manufacturing is expected to enhance Waaree’s ability to deliver end-to-end solutions essential for grid stability and higher renewable energy penetration.
Commenting on the development, Mr. Ankit Doshi, Director, Waaree Energy Storage Solutions Pvt Ltd, said the successful fund raise reflects strong investor confidence in the company’s vision to build world-class energy storage manufacturing infrastructure in India. He added that the investment will help fast-track the commissioning of the 20 GWh facility, strengthen domestic supply chains, and contribute to employment generation and technological innovation in the storage sector.
The 20 GWh lithium-ion cell and battery pack plant is expected to be a cornerstone in India’s efforts to deepen domestic manufacturing in energy storage technologies and reduce reliance on imports, aligning closely with the country’s broader clean energy and sustainability objectives.
Waaree Energy Storage Solutions Pvt Ltd focuses on developing scalable and high-quality battery cell and energy storage system solutions aimed at enabling grid reliability, renewable energy integration and the electrification of transport across India.
