Waaree Energies Share Price in Focus; Outlines 20 GW Battery Manufacturing Plan as Expansion Strategy

Waaree Energies has outlined its strategy to scale battery manufacturing as part of its broader clean energy expansion. 

Speaking after recent financial results, the company highlighted ongoing investments in integrated capacity, non-China sourcing initiatives and overseas manufacturing presence. 

Market attention also remained on the stock, which saw mild weakness in early trading.

Battery Storage at the Core of Growth Plans

Waaree Group Head of Finance Abhishek Pareek stated that battery storage is a key focus area for the company’s future growth, as per CNBC TV 18 report.

He explained that limited daily solar generation hours make storage essential for delivering continuous power supply. 

Hybrid and round-the-clock renewable power solutions, he noted, depend significantly on battery integration to achieve consistent electricity delivery at competitive costs.

Phased 20 GW Battery Manufacturing Project

The company has planned a 20 GW battery cell and pack manufacturing project to be developed in two phases. 

The first phase, with capacity of around 3.5 GW, is expected to begin production in FY27. 

The second phase, comprising about 16.5 GW, is targeted for FY28. Construction of the initial phase is at an advanced stage, and Waaree has already started receiving orders, supported by demand from domestic and overseas markets.

Funding and Execution Progress

Waaree recently raised approximately ₹1,000 crore through equity funding to support its battery manufacturing plans. 

Management indicated that this fundraising reflects investor confidence in the company’s execution capabilities and long-term strategy across integrated clean energy solutions.

Broader Expansion and Integration

Pareek stated that Waaree continues to expand vertically and horizontally across the clean energy value chain. This includes backward integration, EPC capabilities and diversification into inverters, hydrogen, electrolysers and battery systems. 

The company is also advancing a polysilicon facility in Oman as part of efforts to strengthen non-China sourcing for key materials.

US Manufacturing Presence and Tariff Impact

On the impact of US tariffs, management indicated that Waaree’s early entry into US manufacturing has supported stability in its order book. The company currently operates 1.6 GW of manufacturing capacity in the US, has acquired an additional 1 GW of assets, and has 1.6 GW under development. 

This brings total planned US capacity to around 4 GW, which is expected to support business requirements over the next few years.

Waaree Energies Share Price Performance

Waaree Energies shares traded lower in the morning session on 23 January 2026. The stock was recorded at ₹2,603.70, down ₹38.00 or 1.44%. The previous close stood at ₹2,641.70, with the day’s trading range between ₹2,586.00 and ₹2,693.00.

Read More: Waaree Energies Reports 26% Rise in Q3 FY26 Net Profit; Shares Jump 10% in Early Trade.

Conclusion

Waaree Energies’ focus on large-scale battery manufacturing and integrated clean energy capacity reflects its strategy to broaden beyond solar module production. Investors are likely to track progress on project execution, order inflows and global expansion as the company advances its phased growth plans.

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