Waaree Energies has received board approval for a Rs 81.75 billion capital expenditure plan to expand its manufacturing capacities for lithium-ion batteries, electrolysers, and inverters, marking a major step in its clean energy growth strategy. The move reinforces the company’s commitment to support India’s energy transition and the increasing demand for energy storage and power conversion systems.

As part of the plan, Waaree will scale up its lithium-ion battery plant capacity from the current 3.5 GWh to 20 GWh, representing a five- to sixfold increase. This expansion is expected to strengthen the company’s position in the fast-evolving battery storage market. Additionally, Waaree has allocated Rs 3 billion for its subsidiary focusing on lithium-ion cell manufacturing, aligning with its goal of deeper vertical integration.

The approved capex also includes expansion of inverter and electrolyser manufacturing capacities, both crucial components in renewable energy and green hydrogen ecosystems. Inverters convert solar-generated DC electricity into AC for grid use, while electrolysers enable hydrogen production for clean fuel applications.

Industry analysts view the move as a bold and strategic step by Waaree to establish itself as a comprehensive clean energy solutions provider, at a time when competition in battery storage and green power equipment is intensifying globally.

Although detailed timelines and funding structures are yet to be announced, the scale of investment reflects the company’s strong confidence in India’s renewable energy and electrification growth trajectory. The expansion is also expected to create positive ripple effects across battery materials, power electronics, and clean energy supply chains, bolstering India’s domestic manufacturing capabilities.

News source: BusinessWorld