Energy storage and solutions company Livguard plans to incur a capital expenditure of Rs 3,360 crore (USD 400 million) to increase its battery capacity to 25 GWh in the next five years.

The company, which produces lithium, lead acid, and sodium-ion batteries plans to fund the expenditure with around Rs 1,270 crore to Rs 1,697 crore in equity and a similar amount in debt. The firm has a total battery capacity of 12 GWh, out of which 1.2 GWh is getting commissioned, with new additions mostly in lithium batteries.

The company has already set up an energy storage systems (ESS) plant in Manesar, Haryana, using lithium-ion phosphate batteries, which will be expanded to 1.2 GWh by February next year. The company has invested Rs 380 crore in the facility,and looks to add another ESS plant once fully commissioned. The next factory would be for 5GWh and would serve both domestic and export markets.

The firm is planning to raise around Rs 1,697 crore to Rs 2,121 crore in the next financial year, for bolstering production capacity at its new lithium and solar facilities. This will help to achieve a turnover of around Rs 10,000 crore.