Waaree Energies to build 20 GW battery plant, eyes energy transition leadership

• Waaree Energies plans a 20 GW battery cell and pack manufacturing facility, starting production in phases from FY27, as part of its energy transition strategy.
• The company aims to become a broader energy transition player, expanding beyond solar modules into inverters, hydrogen, electrolysers, and batteries.
• Battery storage is crucial for 24x7 power, addressing solar power's limitations and enabling hybrid or round-the-clock solutions.
• Waaree raised ₹1,000 crore for battery manufacturing; the 20 GW project will be developed in two phases, with the first 3.5 GW phase by FY27 and the remaining 16.5 GW by FY28.
• The company has a ₹25,000 crore capex plan over 24 months, including investments in polysilicon (Oman), ingots, wafers, solar cells, modules, and battery manufacturing.

Why It Matters: Waaree Energies is making a significant push into battery manufacturing with a 20 GW plant to lead energy transition.