India, Jan. 5 -- Waaree Energies on Monday said its subsidiary, Waaree Energy Storage Solutions, has raised Rs 1,003 crore from a group of strategic investors, including family offices, high-net-worth individuals and institutional investors.
The fundraise forms part of the company's Rs 10,000-crore capital expenditure plan to set up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility, the company said in a statement.
The proposed plant will manufacture high-performance cells and battery packs catering to utility-scale energy storage systems, electric mobility and distributed energy applications.
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