365telugu.com online news,National,January 5th, 2026: Waaree Energy Storage Solutions Pvt Ltd (WESSPL), a subsidiary of the renewable energy giant Waaree Energies Ltd, has announced a significant capital infusion of approximately ₹1,003 crore. The funding round saw participation from a diverse group of strategic investors, including prominent family offices, high-net-worth individuals (HNIs), and institutional investors.
This financial milestone is a critical component of the company’s broader ₹10,000 crore capital expenditure plan. The funds are earmarked for the establishment of a massive 20 GWh advanced Lithium-ion cell and battery pack manufacturing facility in India.
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Powering India’s Energy Independence
The upcoming gigafactory is set to become a cornerstone of India’s energy storage ecosystem. By focusing on high-performance cells, WESSPL aims to cater to three primary high-growth sectors:
Utility-Scale Storage: Supporting grid stability and renewable energy integration.
Electric Mobility (EVs): Providing localized battery solutions for the surging EV market.
Distributed Energy: Enhancing energy access through localized storage applications.
Strategic Integration and Decarbonization
With this expansion, the Waaree Group is solidifying its position as a “fully integrated” energy transition leader. The group’s portfolio now seamlessly connects solar modules, inverters, and advanced energy storage systems. This vertical integration allows the company to offer end-to-end clean energy solutions, which are vital for the nation’s decarbonization targets and long-term energy security.
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Mr. Ankit Doshi, Director of WESSPL, commented on the successful fundraise: “This investment reflects the strong confidence our backers have in our vision for world-class manufacturing in India. These resources will enable us to fast-track the commissioning of our 20 GWh facility, reducing import dependency while boosting local employment and technological innovation.”
The 20 GWh capacity expansion aligns with the Government of India’s push for domestic manufacturing under various incentive schemes. By strengthening the domestic supply chain for Lithium-ion cells, Waaree is positioned to play a pivotal role in making India a global hub for energy storage technology.