India’s Waaree to increase battery storage manufacturing capacity nearly sixfold

Waaree Energies Ltd is set to significantly expand the production capacities of its upcoming energy storage, electrolyser, and inverter manufacturing facilities.

The company’s Board of Directors has approved increase in the production capacity of its upcoming lithium-ion advanced chemistry storage cell and battery energy storage systems (BESS) manufacturing facility from 3.5 GWh to 20 GWh with an additional capital expenditure (Capex) of INR 8,000 crore ($960 million). This expansion will be executed through Waaree’s wholly owned subsidiary Waaree Energy Storage Solutions.

The company will also increase its annual electrolyser production capacity from 300 MW to 1,000 MW with an additional capex of INR 125 crore.

The Board has also approved an increase in inverter manufacturing from 3 GW to 4 GW, with an additional Capex of approximately INR 50 crore.

Aside from these expansion plans, Waaree has recently commissioned a 950 MW solar module manufacturing facility at its factory in Chikli Taluka of Navsari district in Gujarat.

CBP inquiry

Waaree has reaffirmed its commitment to the US solar market and full cooperation with ongoing investigations, following the initiation of an inquiry by US Customs and Border Protection (CBP) into alleged duty evasion related to the company’s shipments to the US market. According to media reports, CBP is investigating whether Waaree mislabeled Chinese-made solar cells and panels as originating from India in order to circumvent US duties.

“The United States is a key market and manufacturing base for Waaree Energies Limited, as part of our global expansion strategy…As a responsible and compliant corporate citizen, Waaree has consistently cooperated with US authorities and remains fully committed to complying with all applicable laws and trade regulations,” the company stated. “We are aware of a recently initiated inquiry by US Customs and Border Protection (CBP) regarding whether certain entries made by Waaree are covered by antidumping and countervailing duty measures, and we are fully cooperating with this process. At this time, we do not expect the investigation will result in any additional duty, and we are actively working with CBP to ensure full transparency and appropriate corrective action,” it added.

Through its subsidiary, Waaree Solar Americas Inc., Waaree currently operates a 1.6 GW solar module manufacturing facility in Texas, with expansion underway to 3.2 GW. It recent acquired US-based manufacturing assets from Meyer Burger.

From pv magazine India