New Delhi: Waaree Energies Limited has announced an investment of Rs 300 crore in its wholly-owned subsidiary Waaree Energy Storage Solutions Private Limited (WESSPL) to set up a 3.5 GWh Lithium-Ion Advanced Chemistry Storage Cell manufacturing plant, the company informed the stock exchanges on Wednesday.
Follow Energy Watch on X
The investment is being made through a rights issue of 60 crore partly paid-up equity shares of face value Rs 10 each, issued at par. Waaree said Rs 5 per share has been paid on application and the remaining Rs 5 will be payable on call.
WESSPL, incorporated in February 2020 in Mumbai, will remain a wholly-owned subsidiary of Waaree Energies after the transaction. The company, which belongs to the renewable energy sector, has reported nil turnover since inception.
Follow Energy Watch on LinkedIN
The planned 3.5 GWh facility underscores Waaree’s push into energy storage — a critical segment as India expands renewable energy capacity and looks to strengthen grid reliability with advanced battery technologies.
