Waaree Energies Expands In US Despite Trade Investigation
POWER & RENEWABLE ENERGY

Waaree Energies Expands In US Despite Trade Investigation

Waaree Energies, one of India’s leading solar module manufacturers, has reaffirmed its commitment to expanding operations in the United States despite an ongoing trade investigation by US authorities.

In an interview with Reuters, Amit Paithankar, CEO of Waaree Energies, described the US as a “very important market” for the company and said it is fully cooperating with officials. “We are furnishing all required documentation and continuing to work closely with the authorities,” he stated.

US customs officials are investigating whether Waaree Energies bypassed tariffs on Chinese-made solar cells and panels by relabelling them as “Made in India” — an allegation the company has strongly denied. Paithankar noted that the probe is still in its early stages and has not affected shipments or customer commitments. “Our internal assessment suggests the impact will be limited. We will see how it evolves,” he added.

Waaree currently operates 16.1 GW of solar module manufacturing capacity in India and 2.6 GW in the US, where it is witnessing growing demand from data centres, manufacturing, and transportation sectors.

The company is pursuing both organic and inorganic growth in the US, including potential investments in solar cell and battery energy storage system (BESS) manufacturing. “We will not give up on the US — it remains central to our global strategy,” Paithankar said.

As part of its expansion drive, Waaree recently acquired a 1 GW module manufacturing line from Swiss company Meyer Burger in Arizona and is doubling its Houston, Texas facility capacity to 3.2 GW from 1.6 GW. The company also plans to add 10 GW each of solar cell and ingot-wafer capacity by 2027, supplementing its existing 5.4 GW cell capacity.

Waaree’s total order book currently stands at around Rs 470 billion, with 60 per cent comprising export orders. The US remains its largest export destination, contributing more than half of the company’s total revenue.

Waaree Energies, one of India’s leading solar module manufacturers, has reaffirmed its commitment to expanding operations in the United States despite an ongoing trade investigation by US authorities. In an interview with Reuters, Amit Paithankar, CEO of Waaree Energies, described the US as a “very important market” for the company and said it is fully cooperating with officials. “We are furnishing all required documentation and continuing to work closely with the authorities,” he stated. US customs officials are investigating whether Waaree Energies bypassed tariffs on Chinese-made solar cells and panels by relabelling them as “Made in India” — an allegation the company has strongly denied. Paithankar noted that the probe is still in its early stages and has not affected shipments or customer commitments. “Our internal assessment suggests the impact will be limited. We will see how it evolves,” he added. Waaree currently operates 16.1 GW of solar module manufacturing capacity in India and 2.6 GW in the US, where it is witnessing growing demand from data centres, manufacturing, and transportation sectors. The company is pursuing both organic and inorganic growth in the US, including potential investments in solar cell and battery energy storage system (BESS) manufacturing. “We will not give up on the US — it remains central to our global strategy,” Paithankar said. As part of its expansion drive, Waaree recently acquired a 1 GW module manufacturing line from Swiss company Meyer Burger in Arizona and is doubling its Houston, Texas facility capacity to 3.2 GW from 1.6 GW. The company also plans to add 10 GW each of solar cell and ingot-wafer capacity by 2027, supplementing its existing 5.4 GW cell capacity. Waaree’s total order book currently stands at around Rs 470 billion, with 60 per cent comprising export orders. The US remains its largest export destination, contributing more than half of the company’s total revenue.

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