Waaree Energies Limited’s board has approved expansion plans across three of its manufacturing subsidiaries, with a total additional capital expenditure (capex)of approximately Rs 81.75 billion.
The board has cleared the increase in capacity of the lithium-ion advanced chemistry cell and battery energy storage system manufacturing plant from 3.5 GWh to 20 GWh with an investment of around Rs 80 billion in Waaree Energy Storage Solutions Private Limited. It has also approved an increase in the electrolyser manufacturing capacity from 300 MW to 1000 MW annually, backed by an additional capex of Rs 1.25 billion in Waaree Clean Energy Solutions Private Limited. Additionally, the inverter manufacturing capacity will be raised from 3 GW to 4 GW, with an investment of Rs 0.5 billion in Waaree Power Private Limited.