Waaree Energies raises Rs 1,000 crore for capacity expansion
Solar panel manufacturing firm, Waaree Energies raised around Rs 1,000 crore from private investors. The amount would be used for expanding the company's manufacturing capacity for photovoltaic (PV) modules in India to 9 GW from the 5 GW capacity operational at present. The firm's CMD said that the balance of 4 GW is expected to be operational by January 2023.
Waaree is also setting up a manufacturing unit of solar cells with a capacity of 5.4 GW at the company's module-producing site at Chikli, in Gujarat.
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