Waaree Bets on US Solar Boom, Expands Local Sourcing
POWER & RENEWABLE ENERGY

Waaree Bets on US Solar Boom, Expands Local Sourcing

Waaree Energies, India’s leading solar module maker, is expanding manufacturing and localising supplies in the United States as it targets rising electricity demand from data centres, Chief Financial Officer Abhishek Pareek said.

The company plans to increase its US module manufacturing capacity to 4.8 GW by the end of the fiscal year, from 1.6 GW currently. Pareek said new import rules and other duties imposed by the United States had made it more expensive to supply the market from India, prompting Waaree to deepen its local manufacturing presence.

Waaree expects a growing share of its overseas revenue to come from US operations rather than exports from India. The company has historically supplied about 2 to 2.5 GW of modules annually to overseas customers, but the additional US capacity is expected to support a significant increase in those volumes.

The company has an order book exceeding 10 GW from US customers, providing visibility for the next two to three years. Waaree is also working to source the cells used in its US modules domestically, after previously importing them.

By the end of calendar 2027, Waaree expects to have several supply sources within the United States, Pareek said. Demand in the market remains strong, supported partly by the rapid expansion of data centres and their increasing electricity requirements. The company’s localisation strategy is intended to reduce exposure to trade measures while allowing it to serve customers from production facilities closer to the market.

Waaree Energies, India’s leading solar module maker, is expanding manufacturing and localising supplies in the United States as it targets rising electricity demand from data centres, Chief Financial Officer Abhishek Pareek said. The company plans to increase its US module manufacturing capacity to 4.8 GW by the end of the fiscal year, from 1.6 GW currently. Pareek said new import rules and other duties imposed by the United States had made it more expensive to supply the market from India, prompting Waaree to deepen its local manufacturing presence. Waaree expects a growing share of its overseas revenue to come from US operations rather than exports from India. The company has historically supplied about 2 to 2.5 GW of modules annually to overseas customers, but the additional US capacity is expected to support a significant increase in those volumes. The company has an order book exceeding 10 GW from US customers, providing visibility for the next two to three years. Waaree is also working to source the cells used in its US modules domestically, after previously importing them. By the end of calendar 2027, Waaree expects to have several supply sources within the United States, Pareek said. Demand in the market remains strong, supported partly by the rapid expansion of data centres and their increasing electricity requirements. The company’s localisation strategy is intended to reduce exposure to trade measures while allowing it to serve customers from production facilities closer to the market.

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