Waaree Energies, a prominent player in the renewable energy sector, unveiled its plans for major capital expenditures during its Board of Directors meeting on December 23, 2024. The company announced the following investments aimed at bolstering its green energy initiatives:
- Electrolyser Manufacturing Plant:
- Capital Expenditure: ₹551 crore
- Additional Investment: ₹200 crore
- Objective: Setting up a 300 MW electrolyser manufacturing plant under its wholly-owned subsidiary Waaree Clean Energy Solutions Private Limited, as part of the PLI tender issued by MNRE through SECI.
- Funding: A mix of debt and internal accruals.
- Lithium-Ion Storage Cell Manufacturing:
- Capital Expenditure: ₹2,073 crore
- Additional Investment: ₹650 crore
- Objective: Establishing a 3.5 GWh lithium-ion advanced chemistry storage cell manufacturing facility under Waaree Energy Storage Solutions Private Limited.
- Funding: A mix of debt and internal accruals.
- Inverter Business Expansion:
- Capital Expenditure: ₹130 crore
- Contribution: Up to ₹40 crore from Waaree Energies Limited.
- Objective: Enhancing its inverter business operations through its wholly-owned subsidiary Waaree Power Private Limited.
Strategic Impact
These investments signify Waaree’s aggressive push toward strengthening its renewable energy portfolio, aligning with India’s green energy goals. The move is expected to position Waaree as a leading player in advanced energy solutions, contributing significantly to sustainable energy advancements.
