Waaree Energies Ltd, a Gujarat-based manufacturer of solar cells and modules, has invested INR 300 crore in its wholly-owned subsidiary, Waaree Energy Storage Solutions Pvt Ltd (WESSPL), through a rights issue.
Incorporated on February 4, 2020, in Mumbai, Maharashtra, WESSPL was established to set up a 3.5 GWh lithium-ion battery cell manufacturing facility. The plant is expected to be commissioned by 2026–27.
As part of its broader strategy to become a fully integrated solar solutions provider, Waaree is also setting up manufacturing facilities for green hydrogen electrolysers and inverters.
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