Shares of Waaree Energies jumped over 3% after the company’s board approved significant capacity expansions across its clean energy businesses, with a total investment of around ₹8,175 crore. As of 10:09 AM, the shares were trading 3.05% higher at Rs 3,433.60.
The company plans to massively boost the capacity of its Lithium Ion Advanced Chemistry Storage Cell and Battery Energy Storage System (BESS) plant from 3.5 GWh to 20 GWh. This expansion will see an additional investment of roughly ₹8,000 crore through its wholly-owned subsidiary, Waaree Energy Storage Solutions Private Limited.
In addition, Waaree’s board greenlit a major upgrade for its electrolyser manufacturing plant, increasing annual production capacity from 300 MW to 1,000 MW. This will involve a capex of around ₹125 crore via Waaree Clean Energy Solutions Private Limited.
The company is also enhancing its inverter manufacturing plant from 3 GW to 4 GW, with an investment of about ₹50 crore under Waaree Power Private Ltd.
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