Waaree Energies Limited has announced a strategic investment of ₹300 crore in its wholly owned subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL), to establish a 3.5 GWh lithium-ion advanced chemistry storage cell manufacturing plant. This move underscores Waaree’s commitment to expanding its footprint in the renewable energy sector, particularly in energy storage solutions.
The investment was executed through a rights issue, involving the allotment of 60 crore partly paid-up equity shares with a face value of ₹10 each. Of this, ₹5 per share was paid on application, with the remaining ₹5 payable on call. This capital infusion aims to bolster WESSPL’s capabilities in manufacturing advanced battery storage solutions, aligning with India’s increasing demand for energy storage as the country transitions towards renewable energy sources.
WESSPL, incorporated in February 2020, has reported nil turnover over the past three financial years, including FY25. Despite this, the fresh capital infusion positions the subsidiary to capitalize on the growing energy storage market. The establishment of the 3.5 GWh manufacturing facility is expected to play a pivotal role in enhancing grid stability and supporting the integration of renewable energy into India’s power infrastructure.
Following the investment, WESSPL will continue to operate as a wholly owned subsidiary of Waaree Energies, with no change in the shareholding structure. The company has confirmed that the transaction was executed for cash consideration and did not require any regulatory approvals.
This development is part of Waaree Energies’ broader strategy to diversify its portfolio and strengthen its presence in the renewable energy sector. The company’s recent acquisition of a 76% stake in Racemosa Energy India, a smart electric meters company, for ₹53 crore further reflects its commitment to integrating smart energy solutions into India’s energy infrastructure.
Market analysts anticipate that this strategic investment will enhance Waaree Energies’ position in the renewable energy sector, potentially leading to increased investor interest and positive movement in the company’s stock performance.
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