Waaree Energies Approves ₹8,175 Crore Capex

The board of Waaree Energies has approved a substantial capital expenditure plan of approximately ₹8,175 crore to expand its clean energy manufacturing capacities. The solar cell maker intends to scale up its Lithium‑Ion Advanced Chemistry Storage Cell and Battery Energy Storage System (BESS) production facility from 3.5 GWh to 20 GWh, involving an additional investment of about ₹8,000 crore in Waaree Energy Storage Solutions Private Limited.

The board also sanctioned raising the annual capacity of its electrolyser manufacturing facility from 300 MW to 1,000 MW, requiring a capex of around ₹125 crore in Waaree Clean Energy Solutions Private Limited. Furthermore, the inverter manufacturing plant will be expanded from 3 GW to 4 GW, with a further ₹50 crore investment in Waaree Power Private Ltd.

Waaree has come under scrutiny following reports of a U.S. investigation into allegations of evading anti‑dumping and countervailing duties on solar cells. In a statement to stock exchanges, Waaree Energies said it “has cooperated with US authorities in past investigations and will continue to extend full cooperation in the ongoing probe.” Its subsidiary, Waaree Solar Americas, currently operates a 1.6 GW module manufacturing facility in Texas, which is being expanded to 3.2 GW. Waaree stated, “We are working in a steadfast manner on our commitment to building a manufacturing footprint in the U.S.,” reaffirming its intention to maintain a presence in the American clean energy market.

On BSE, Waaree Energies shares closed at ₹3,330.80, up ₹2.90 or 0.087%. The company’s market capitalization stood at ₹95,807 crore. A total of 0.77 lakh shares changed hands, amounting to a turnover of ₹25.71 crore.

Waaree Energies is an Indian solar PV module manufacturer with an installed capacity of 12 GW. Its product portfolio includes multicrystalline modules, monocrystalline modules, and TopCon modules.