The move is part of the company’s plans to increase capacity from the existing 3.5 GWh to 20 GWh, with an additional capital expenditure of approximately Rs 8,000 crores in its wholly owned subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL). Its board had approved the plans on October 1, 2025.
The clarification came after stock exchanges sought a response from Waaree Energies regarding the Hindu article titled, “Andhra secures Waaree Energies’ battery giga-factory with Rs 8,175 crore investment.” Its shares dropped over 3% on Thursday amid broad-based selling, closing at Rs 2,871 on the NSE.
WESSPL is a subsidiary of Waaree Energies, and it has plans to set up a 16 GWh lithium-ion cell Gigafactory, covering cell manufacturing, battery packs and large-scale Battery Energy Storage Systems (BESS), at Rambilli in Anakapalli district, ET had earlier reported. WESSPL will invest Rs 8,175 crore in the project, which is expected to generate around 3,000 direct jobs, the report said.
It received in-principle approval on Tuesday from the Andhra Pradesh State Investment Promotion Board (SIPB), chaired by chief minister N Chandrababu Naidu.
“This will be India’s largest battery manufacturing plant — not just in capacity, but in its fully integrated setup covering cells, packs, and grid-scale storage systems,” said Nara Lokesh, Andhra Pradesh state minister and chair of the group of ministers on job creation. “Our goal is to build complete clean-energy value chains in Andhra Pradesh. After renewable power generation and solar manufacturing, this project firmly positions us in advanced energy storage — a strategic sector for India’s energy security.”
Large-scale energy storage is increasingly viewed as the backbone of India’s clean-energy transition, essential for balancing intermittent renewable power, supporting electric vehicle adoption and strengthening grid resilience. At present, a significant share of lithium-ion cells and BESS equipment is imported, making domestic capacity a geopolitical and economic priority.Sensex, Nifty today: Catch all the LIVE stock market action here
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