Waaree Energies secures Rs 10 billion in second round of equity funding

Waaree Energies Limited, a solar panel manufacturer, has raised Rs 10 billion in its second round of equity funding led by ValueQuest. Adding to the existing capacity of 12 GW, the latest round of funding will be used for the expansion of another 6 GW of capacity which will be utilised for the production of cells, wafers, modules and solar ingots. The raised funding is in addition to production linked incentive, tranche II awarded by government for Rs 19.23 billion.