Waaree Energies Approves Investment Proposals Worth ₹850 Crore.

The Board of Waaree Energies has approved significant investment proposals totaling ₹850 crore to establish advanced manufacturing facilities. These initiatives aim to strengthen the company’s position in renewable energy and storage solutions.


Key Investment Highlights

  1. Electrolyser and Storage Cell Manufacturing Facilities:
    • ₹850 crore allocated for setting up these state-of-the-art facilities to bolster production capabilities in renewable energy components.
  2. Inverter Business Expansion:
    • ₹130 crore capital expenditure approved for Waaree Power, a wholly-owned subsidiary, to expand operations in the inverter segment.
  3. Lithium-Ion Advanced Chemistry Storage Cell Plant:
    • A significant capex of ₹2,073 crore approved for setting up a 3.5 GWh lithium-ion storage cell manufacturing plant under Waaree Energy Storage Solutions.
    • An additional ₹650 crore investment has been earmarked for the project.
    • The capex will be financed through a combination of debt and internal accruals.

Strategic Implications

  • Focus on Energy Storage:
    The advanced lithium-ion storage cell facility aligns with the rising demand for energy storage solutions driven by the renewable energy sector.
  • Strengthening the Supply Chain:
    The investment in electrolysers and storage cells aims to reduce reliance on imports, fostering a self-sufficient and robust renewable energy ecosystem.
  • Boost to ‘Make in India’:
    These investments reinforce Waaree’s commitment to the government’s ‘Make in India’ initiative, supporting local manufacturing and innovation in clean energy technologies.
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