Waaree Energies Limited is reportedly preparing for a major institutional fundraising exercise as the company moves ahead with aggressive expansion plans across the renewable energy ecosystem. According to reports, the solar equipment manufacturer has initiated discussions with several domestic and international investment banks for a proposed qualified institutional placement (QIP) worth up to ₹10,000 crore.
The fundraising initiative comes as the company increases investments across solar manufacturing, battery storage systems, electrolyzers, transmission infrastructure, and supply-chain integration to strengthen its position in India’s rapidly expanding clean energy sector.
Waaree Begins Preparations for Institutional Fundraising
Waaree Energies had earlier approved plans to raise as much as ₹10,000 crore through one or more QIP issuances or other fundraising mechanisms. The proposed capital raise would mark the company’s first large institutional fundraising initiative since its market listing in 2024.
Reports suggest that the company is currently in discussions with multiple investment banking firms to finalise advisors for the transaction. Formal appointments are expected in the coming weeks as the company advances its long-term growth strategy.
The fundraising discussions are taking place at a time when renewable energy companies are witnessing heightened investor interest due to rising global focus on energy security, clean energy transition, and supply-chain localisation.
Massive ₹30,000 Crore Expansion Plan
During its Q4 FY26 earnings interaction, Waaree Energies outlined plans to invest nearly ₹30,000 crore over the next two years across multiple clean-energy businesses.
The company aims to strengthen backward integration, expand manufacturing capacity, localise critical components, and diversify into adjacent energy transition technologies.
One of the key projects includes a 10 GW ingot and wafer manufacturing facility planned in Nagpur with an estimated investment of around ₹6,200 crore. The project is expected to enhance domestic manufacturing capabilities within the solar supply chain.
Waaree is also planning a large solar PV glass manufacturing facility with a proposed capacity of 2,500 tonnes per day involving investments of approximately ₹3,900 crore.
Battery Manufacturing and Energy Storage Expansion
The company is significantly increasing its focus on battery manufacturing and energy storage infrastructure. Waaree plans to invest nearly ₹10,000 crore to build a 20 GWh battery manufacturing ecosystem covering lithium iron phosphate (LFP) cells, battery packs, and battery containers.
The first phase involving 3.5 GWh capacity is targeted for FY27, while the remaining capacity will be developed in later stages.
Energy storage systems are becoming increasingly important for renewable energy integration, grid stability, and large-scale power management across solar and wind projects.
Expansion into Electrolyzers and Transmission Infrastructure
Waaree Energies is also expanding into hydrogen-related technologies through a planned 1 GW electrolyzer manufacturing facility in Gujarat. The project is expected to involve investments of nearly ₹676 crore.
Additionally, the company plans to increase transformer manufacturing capacity at its Rajasthan unit to 20,000 MVA while also expanding inverter manufacturing capacity in Gujarat to 4 GW.
The company is simultaneously strengthening its presence in the transmission and distribution sector through the acquisition of around 55% stake in Associated Power Structures Private Limited for nearly ₹1,225 crore.
Waaree Energies Share Price Performance
As of May 13, 2026, at 10:00 AM, Waaree Energies share price was trading at ₹3,088.50 per share, reflecting a decline of 1.17% from the previous closing level.
Summary
Waaree Energies is reportedly planning a ₹10,000 crore qualified institutional placement as part of its broader expansion strategy across renewable energy manufacturing and infrastructure. The company is preparing large investments in solar manufacturing, battery storage systems, electrolyzers, transformers, and transmission infrastructure while also expanding backward integration and supply-chain capabilities. The proposed fundraising highlights Waaree’s growing focus on strengthening its position across the clean energy value chain.
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