Waaree Energy Storage Solutions Pvt Ltd (WESSPL), asubsidiary of Waaree Energies Ltd., has announced the successful completion ofa major funding round totalling ~INR1,003-crores from a cluster of strategicinvestors, including family offices, high-net-worth individuals (HNIs), andinstitutional backers. This fund raise is a part of the announced Capex of~INR10,000-crores for the establishment of a 20 GWh advanced lithium-ion celland battery pack manufacturing plant.

The plant will focus on the production ofhigh-performance cells and battery packs tailored for utility-scale storagesystems, electric mobility, and distributed energy applications. This capacityexpansion is a key milestone in Waaree Group’s integrated renewablemanufacturing roadmap and a strategic complement to existing solarmanufacturing capabilities.

Commenting on the fund raise, Ankit Doshi, Director,WESSPL, said, “With these strategic resources, we will fast-track thecommissioning of our 20 GWh cells and battery pack facility, strengthendomestic supply chains, and contribute to the growth of India’s energy storagecapacity.”