Waaree Energies has received board clearance for a massive Rs 8,175 crore capital expenditure plan aimed at significantly scaling its lithium-ion, electrolyser and inverter manufacturing capacities. The move signals the company’s ambitions to play an influential role in India’s energy transition and meet rising demand for storage and power conversion infrastructure.
Under the plan, Waaree intends to enhance its existing lithium-ion battery plant capacity dramatically—from the current 3.5 GWh to 20 GWh. This five- to sixfold scale-up positions it to compete aggressively in the fast-growing battery storage segment. According to market sources, the company recently earmarked an additional Rs 300 crore investment into its subsidiary that will focus on lithium-ion cell manufacturing—an indicator of its vertical integration strategy.
In parallel, the plan also includes expansion of inverter and electrolyser capacities, essential for renewable energy projects and green hydrogen ecosystems. Inverters convert direct current (DC) electricity (e.g. generated by solar panels) into alternating current (AC) for grid use, while electrolysers are critical for hydrogen production when electricity is passed through water to separate hydrogen from oxygen. By broadening its presence across these adjacent domains, Waaree aims to become a holistic clean energy solutions provider.
The announcement has drawn attention from investors and industry watchers, who view it as a bold but necessary move in a competitive landscape increasingly dominated by global majors and domestic champions racing to capture share in battery, storage, and green power equipment sectors. As the nation pivots towards electrification of mobility and decarbonisation of energy, companies like Waaree are betting that integrated manufacturing will offer both scale and differentiation.
While the detailed timelines, funding mix, and execution phases remain subject to further board disclosures, the scale of this capex signals the confidence of the company’s management in India’s clean energy demand trajectory. Watchers expect a ripple effect across related supply chains, from battery raw materials to power electronics — and a renewed focus on building deeper local capabilities in the clean energy economy. |
