Waaree Energies to Build Rs 8,000 Crore Lithium-Ion Gigafactory

Waaree Energies is a renewable energy leader and has claimed to establish the largest integrated lithium-ion battery gigafactory in Rambilli, Anakapalli district, Andhra Pradesh.

The project, which will be invested in at a cost of 8,175 crore will generate about 3,000 direct employment opportunities, as per an official release.

The greenfield plant will be 16 GWh and will encompass the whole battery value chain, comprising cell production, battery packs, and massive Battery Energy Storage System (BESS). This project is a major move towards increasing the energy storage of India and aids the country in clean energy transition.

The Andhra Pradesh State Investment Promotion Board, chaired by Chief Minister N. Chandrababu Naidu, has already given in-principle approval for the project. "Waaree Energies will establish India's largest integrated lithium-ion battery gigafactory in Andhra Pradesh," said the official release.

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Andhra Pradesh Human Resources Minister Nara Lokesh talked about the significance of this project in the clean energy journey of the state and referred to it as a milestone in the journey of India towards clean energy independence.

Hitesh Doshi, Managing Director of Waaree Energies, said, “This gigafactory is not just a step forward for Waaree Energies, but a giant leap for India's renewable energy future. By producing high-quality lithium-ion batteries locally, we aim to empower the country’s electric mobility, energy storage solutions, and overall energy independence."

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The gigafactory should be vital in assisting in India's renewable energy growth, electric mobility, and grid stability. It shall also help the nation in pursuing strategic manufacturing self-sufficiency in high-technology energy storage.