Waaree Energies Limited has approved plans to set up a 300 MW electrolyser manufacturing facility and a 3.5 GWh lithium-ion Advanced Chemistry Storage Cell production plant.
The electrolyser manufacturing project will be implemented under Waaree Clean Energy Solutions, a subsidiary of Waaree Energies. The project will require Rs 5.51 billion in capital expenditure (CAPEX) and Rs 2 billion in investment. This initiative will be developed under the Production-Linked Incentive scheme issued by the Ministry of New and Renewable Energy through the Solar Energy Corporation of India. Funding for the project will be sourced through debt and internal accruals.
The lithium-ion Advanced Chemistry Storage Cell manufacturing plant, with a capacity of 3.5 GWh, will be undertaken by Waaree Energy Storage Solutions, another subsidiary of Waaree Energies. The project will involve Rs 20.73 billion in CAPEX and Rs 6.5 billion in investment, both funded by debt and internal accruals.
Additionally, Waaree Energies plans to invest Rs 1.3 billion in its inverter business through its subsidiary Waaree Power. Of this, Waaree Energies will contribute up to Rs 400 million.
Earlier this month, Waaree Energies secured solar module supply orders totaling 398 MW for two renewable energy projects in India, with capacities of 249 MW and 149 MW. The supply contracts include Waaree’s high-efficiency Glass N-type Topcon modules, with deliveries extending into FY 2025-26.
