Waaree Energy Storage Solutions, a subsidiary of Waaree Energies, has secured ₹10.03 billion (~$111.16 million) in funding from a group of strategic investors, including family offices, high-net-worth individuals, and institutional backers.

The funding is part of the ₹100 billion (~$1.1 billion) capital expenditure announced to establish a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility.

The cells and battery pack manufacturing plant will focus on producing cells and battery packs tailored for utility-scale storage systems, electric mobility, and distributed energy applications.

In November 2025, Waaree Energy Storage Systems raised ₹3.25 billion (~$36.65 million) as part of a ₹10 billion (~$112.78 million) funding round led by investment firm Niveshaay to enhance its battery cell and pack manufacturing capacity. The funding would also be used to strengthen Waaree’s engineering and validation capabilities and to scale containerized battery energy storage systems across India and select global markets.

In the same month, the company announced plans to scale domestic battery storage manufacturing with a 4 GWh lithium-ion cell production line and a 5 GWh pack-and-container facility, aimed at supporting both utility-scale and commercial and industrial requirements.

The plans to establish a cell and battery pack plant come in the background of the company winning BESS projects.

In November 2025, the Waaree Group secured a 10 MWh order for battery energy storage systems from an infrastructure development company for deployment in Tamil Nadu.

According to India’s Energy Storage Landscape 1H 2025 Report by Mercom Research, India added 48.4 MWh of energy storage capacity in the first half of 2025, a 74% decline from 186 MWh added in the same period last year. India’s cumulative installed energy storage capacity reached 490 MWh by the end of June 2025.

Apart from BESS, Waaree’s offerings include inverters and solar modules.

Recently, Waaree Power, a wholly owned subsidiary of Waaree Energies, commissioned two 1.52 GW solar inverter manufacturing lines, totalling 3.05 GW, at its facility in Sarodhi-Valsad, Gujarat. The company will manufacture single-phase and three-phase on-grid inverters.