An energy storage subsidiary of Waaree Energies has raised INR10 billion (US$110.9 million) in funding for a planned manufacturing plant in India.
Waaree said yesterday that its subsidiary, Waaree Energy Storage Solutions Pvt Ltd (WESSPL), has completed the funding round. It will be put toward the total INR100 billion investments required for WESSPL to build a lithium-ion (Li-ion) cell and pack factory.