Waaree Energy Storage Solutions Pvt Ltd has announced a strategic fund raise of about ₹1,003 crores. The investment was secured from a group of strategic investors including family offices, high net worth individuals and institutional backers.
The fund raise is part of a planned capital expenditure of around ₹10,000 crores to set up a 20 GWh advanced lithium ion cell and battery pack manufacturing facility in India. The project aims to support the country’s energy storage needs and align with national clean energy and energy security goals.
The upcoming plant will manufacture lithium ion cells and battery packs for utility scale energy storage, electric mobility and distributed energy applications. This expansion marks an important step in Waaree Group’s broader manufacturing roadmap and complements its existing solar manufacturing operations.
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