Waaree Energy Storage Solutions Pvt Ltd (WESSPL), a wholly owned subsidiary of Waaree Energies Ltd, has successfully closed a major funding round worth approximately ₹1,003 crore. The capital has been raised from a group of strategic investors, including family offices, high-net-worth individuals (HNIs), and institutional backers, marking a significant step forward in India’s rapidly expanding energy storage sector.
The fundraise forms part of Waaree Group’s previously announced capital expenditure plan of around ₹10,000 crore, aimed at establishing a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility in India. With this development, WESSPL is set to play a pivotal role in strengthening the country’s domestic energy storage ecosystem while supporting national goals related to clean energy adoption and long-term energy security.
The upcoming manufacturing plant will focus on producing high-performance lithium-ion cells and battery packs designed for a wide range of applications. These include utility-scale energy storage systems, electric mobility solutions, and distributed energy applications. By catering to these fast-growing segments, WESSPL aims to address the increasing demand for reliable storage solutions required to balance renewable power generation and ensure grid stability.
This capacity expansion represents a key milestone in Waaree Group’s integrated renewable energy manufacturing roadmap. The entry into large-scale battery cell and pack manufacturing strategically complements the group’s existing solar manufacturing capabilities, allowing Waaree to move beyond generation equipment and into critical energy storage infrastructure.
With this investment, Waaree Group is accelerating its transformation into a fully integrated energy transition player. The company’s presence now spans solar modules, inverters, batteries, energy storage systems, and emerging clean energy technologies. The addition of advanced storage manufacturing further enhances Waaree’s ability to offer end-to-end solutions that are essential for higher renewable energy penetration, improved grid reliability, and large-scale decarbonisation.
