ValueQuest Tristar Fund has invested INR 125 crore in Waaree Energy Storage Solutions Pvt Ltd (WESSPL), a subsidiary of Waaree Energies Ltd, as part of its strategy to focus on sectors such as clean energy, aerospace, and manufacturing. WESSPL is working on developing advanced energy storage systems using lithium-ion and sodium-ion technologies, with a goal of achieving a production capacity of 20 GW. The investment will be used to enhance WESSPL’s research, product development, and technological capabilities, supporting India’s goals of shifting to sustainable energy and promoting domestic manufacturing.
ValueQuest’s investment in WESSPL is its second major investment, following its initial investment of INR 100 crore in Rangsons Aerospace Pvt. Ltd. The Fund, which announced its first close in June 2025, has a target size of INR 1,300 crore and is already over 65% subscribed. ValueQuest’s founders and fund managers expressed their confidence in WESSPL’s potential to become a major contributor in the clean technology space, citing the company’s leadership in renewables and its expansion into battery storage.
The investment in WESSPL aligns with ValueQuest’s approach of backing Indian companies driving long-term industrial transformation. The firm believes that India’s clean energy future will be built on a foundation of robust local manufacturing, and WESSPL’s capabilities in battery storage will play a critical role in the renewable energy ecosystem. ValueQuest Investment Advisors Pvt Ltd, the Mumbai-headquartered investment firm, is recognized for its disciplined research approach and long-term investment philosophy, and has become a trusted name in Indian asset management.
The investment in WESSPL is expected to support the company’s growth and contribute to India’s green energy goals. With its strong engineering capabilities and ability to scale in emerging sectors, WESSPL is well-positioned to become a major player in the clean technology space. ValueQuest’s investment will enable WESSPL to enhance its research and development capabilities, driving innovation and growth in the renewable energy sector. Overall, the investment is a significant step forward for both ValueQuest and WESSPL, and is expected to have a positive impact on India’s clean energy future.