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News Topical, Digital Desk : Waaree Energies announced after the stock market closed on Monday that its subsidiary, Waaree Energy Storage Solutions Pvt Ltd (WESSPL), has secured strategic funding of approximately ₹1,003 crore for a 20 GWh capacity advanced lithium-ion cell and battery pack manufacturing factory. The funding round included family investment offices, high net worth individuals (HNIs), and institutional investors.
This funding is part of the company's announced capex of ₹10,000 crore, which will strengthen WESSPL's leading position in India's energy storage sector and directly support the country's clean energy transition and energy security goals. The new factory will produce high-performance battery cells and packs specifically designed for utility-scale storage systems, electric mobility, and distributed energy applications. This capacity expansion will enhance Waaree Group's renewable manufacturing roadmap and strategic alignment with its solar module manufacturing capabilities. Through this investment, Waaree Group is evolving into a fully integrated energy transition player, encompassing solar modules, inverters, batteries, energy storage systems, and other emerging clean energy technologies. The integration of storage manufacturing will strengthen its ability to deliver end-to-end solutions for grid stability, renewable energy penetration, and large-scale decarbonization.
Stock Performance The company's stock closed at ₹2,713.10 on Monday, down 5.34%. Over the past year, the company's stock has declined 1.04%.
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