ValueQuest Tristar Fund Invests ₹1.25 Billion in Waaree Energy Storage Solutions to Accelerate Clean Tech Expansion

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ValueQuest Tristar Fund has led a ₹1.25 billion investment round in Waaree Energy Storage Solutions, a subsidiary of Waaree Energies. The funding will support R&D, scale production of co-storage technologies, and expand market presence. This strategic infusion positions Waaree to capitalize on India’s growing demand for advanced energy storage systems.

In a major boost to India’s clean energy ecosystem, ValueQuest Tristar Fund has announced a ₹1.25 billion investment in Waaree Energy Storage Solutions, the energy storage arm of Waaree Energies. The funding round, finalized earlier this week, is aimed at scaling up co-storage production, accelerating R&D, and strengthening market penetration in the fast-evolving energy storage segment.

Major Takeaways:

Investment Details: ValueQuest Tristar Fund led the round with a ₹1.25 billion infusion, marking one of the largest private equity investments in India’s energy storage space this year.

Strategic Objectives: The capital will be deployed to:

Expand R&D efforts in battery and hybrid storage technologies
Enhance manufacturing capacity for co-storage systems
Broaden market footprint across industrial, commercial, and utility-scale applications

Company Background: Waaree Energy Storage Solutions is a subsidiary of Waaree Energies, India’s leading solar PV module manufacturer and EPC player. The group has diversified into rooftop solar, grid-scale projects, and now energy storage to offer integrated clean energy solutions.

Market Context: India’s energy storage market is expected to grow at a CAGR of 24% through 2030, driven by renewable integration, grid stability needs, and EV adoption. Waaree aims to be a key enabler in this transformation.

Leadership Commentary: Executives from Waaree stated that the investment will help accelerate innovation, reduce technology costs, and deliver scalable solutions to meet India’s clean energy goals. ValueQuest emphasized its confidence in Waaree’s execution capabilities and sectoral vision.

Notable Updates:

Waaree is also exploring strategic partnerships with global battery manufacturers and joint ventures for lithium-ion and flow battery technologies.
The company plans to launch a new product line of modular energy storage systems by Q1 FY26.

This investment marks a pivotal moment for Waaree Energy Storage Solutions, reinforcing its leadership in India’s clean tech landscape and aligning with national priorities for energy transition and sustainability.

Sources: ScanX News, MarketScreener, Waaree Energies

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