Waaree Energies raises Rs 10 billion for expansion of manufacturing capacity

Waaree Energies Limited has raised Rs 10 billion in primary funding from a variety of investors. The promoters took part in this equity raise at the same price. The proceeds will be further used to fund the company’s plans to expand its manufacturing capabilities in India from 2 GW to 9 GW for pho­tovoltaic modules. Of this, 5 GW is already operational and the remaining 4 GW is expected to become operational by January 2023.