India’s biggest solar manufacturer Waaree raises funds toward 20GWh energy storage factory
- Özcan Berk Atakan
- 2 days ago
- 2 min read
India’s largest solar module manufacturer, Waaree Energies, has taken a significant strategic step by securing new funding to advance the development of a 20 GWh energy storage manufacturing facility. The move underlines Waaree’s ambition to evolve from a solar-focused manufacturer into a fully integrated clean energy and storage solutions provider.
The funding—raised through Waaree’s energy storage subsidiary—amounts to approximately USD 110 million, forming part of a much larger capital expenditure plan of around USD 1.1 billion. This investment will support the construction of a large-scale lithium-ion cell and battery pack manufacturing plant, designed to serve multiple high-growth segments of the energy market.
Waaree already operates one of the largest solar PV manufacturing capacities in India. By entering battery cell and pack production, the company aims to address one of the most critical bottlenecks in renewable energy deployment: energy storage availability. The planned factory will primarily target:
Utility-scale battery energy storage systems (BESS)
Commercial and industrial storage applications
Electric mobility and related infrastructure
This vertical expansion allows Waaree to offer more comprehensive solutions for grid operators, developers, and industrial clients as renewable penetration increases.
India’s power system is rapidly integrating variable renewable energy, making large-scale storage essential for grid stability, peak shaving, and energy shifting. Domestic battery manufacturing is also a strategic priority, as the country currently relies heavily on imported lithium-ion cells.
Waaree’s 20 GWh project is expected to play a meaningful role in reducing import dependency, strengthening supply chain resilience, and supporting national clean energy and manufacturing objectives.
This investment sends a clear signal: energy storage is no longer an optional add-on to solar generation—it is becoming a core infrastructure component. By committing early and at scale, Waaree positions itself among the key players shaping India’s next phase of renewable and storage-driven power systems.
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