Waaree Energies Ltd on Monday mentioned its board has authorized 3 funding proposals aggregating Rs 850 crore to arrange electrolyser and garage mobile production amenities.

The board additionally authorized capital expenditure (capex) of Rs 130 crore in invertor trade thru its wholly-owned subsidiary Waaree Energy Personal Restricted.

The board authorized “capital expenditure of Rs 551 crore and funding of Rs 200 crore for 300 MW electrolyser production plant in its wholly-owned subsidiary Waaree Blank Power Answers, below the PLI Scheme,” Waaree Energies mentioned in an change submitting.

It additionally authorized a capital expenditure of Rs 2,073 crore and an funding of Rs 650 crore for putting in place a three.5 GWh Lithium-Ion Complicated Chemistry Garage Cellular production plant in its wholly-owned subsidiary Waaree Power Garage Answers.

The capex shall be funded by means of a mixture of debt and inner accruals, the corporate mentioned.

The board additional authorized the appointment of Amit Paithanka, Leader Government Officer (CEO), as an Further Director of the corporate, designated as Entire Time Director.

His appointment for 5 years, efficient from December 23, 2024, is topic to the approval of shareholders.