Waaree Energies Expands U.S. Presence Despite Ongoing Trade Probe
India’s leading solar module manufacturer, Waaree Energies (WAAN.NS), is pushing ahead with its expansion plans in the United States even as U.S. authorities investigate allegations that the company evaded tariffs on Chinese-made solar components by labelling them as Indian-made. The company has denied any wrongdoing, emphasizing that the probe remains in its early stages and has not affected its shipments.
Waaree Energies CEO Amit Paithankar said the firm is fully cooperating with U.S. customs officials and providing all necessary documentation. He added that internal assessments suggest the issue is unlikely to have a significant impact on operations. “We will not give up on the U.S. — it’s a very, very important market for us,” Paithankar said, noting that the company is pursuing both organic and inorganic growth avenues, including ventures in solar cell and battery energy storage manufacturing.
With 16.1 GW of module-making capacity in India and 2.6 GW in the U.S., Waaree is benefiting from rising American demand driven by data centers, manufacturing, and transport sectors. Its current order book totals around ₹470 billion ($5.4 billion), with exports accounting for 60% — half of which come from the U.S. market. The firm recently acquired a 1 GW module manufacturing line from Switzerland’s Meyer Burger in Arizona and is expanding its Houston, Texas facility to 3.2 GW. By 2027, Waaree plans to add 10 GW each of solar cell and ingot-wafer manufacturing capacity to bolster its renewable energy footprint.
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