Last Updated on September 26, 2025 by Author
Waaree Energies Ltd. has announced an infusion of INR 300 crore into its wholly owned subsidiary Waaree Energy Storage Solutions Pvt. Ltd. (WESSPL) to establish a lithium-ion advanced chemistry cell manufacturing plant.
The funding will be raised through a rights issue of 60 crore partly paid-up equity shares of face value INR 10 each. The payment structure includes INR 5 per share on application and the balance INR 5 on call. Post this transaction, Waaree Energies will continue to hold 100 percent ownership in WESSPL, which was incorporated in 2020 and currently reports no turnover.
This investment is part of Waaree’s broader INR 15,000 crore expansion plan over the next two years, which includes scaling solar module and cell capacities, launching a Battery Energy Storage System (BESS) facility, expanding inverter and ingot-wafer manufacturing, and entering the hydrogen electrolyser segment.
The lithium-ion cell manufacturing project under WESSPL will play a critical role in strengthening India’s domestic energy storage ecosystem, reducing import dependency, and supporting the nation’s clean energy transition goals.
