Waaree Energy Storage raises ₹1,003 crore to set up 20 GWh lithium-ion battery manufacturing plant

Waaree Energy Storage Services Pvt. Ltd, a subsidiary of clean-energy firm Waaree Energies Ltd, has raised ₹1,003 crore as part of the ₹10,000-crore capital expenditure planned to set up a 20-gigawatt-hour lithium-ion battery and battery pack manufacturing facility, it said in a statement on Monday.

“With these strategic resources, we will fast-track the commissioning of our 20GWh cells and battery pack facility, strengthen domestic supply chains, and contribute to the growth of India’s energy storage capacity,” said Ankit Doshi, director, Waaree Energy Storage Services Pvt. Ltd, in the company’s statement.