Waaree Solar Secures $176M US Module Order

• Waaree Solar Americas lands $176M deal to supply 586 MW solar modules for major US projects, boosting domestic production and meeting ITC guidelines.

Waaree Solar Americas Inc, a subsidiary of India's Waaree Energies Ltd, has secured a USD 176 million contract to supply 586 MW of solar modules for a large-scale project in the US. The order, placed by an unnamed US-based independent power producer, involves delivering the modules for four projects during fiscal 2026/2027.

The modules will be manufactured at Waaree's facility in Brookshire, Texas, using several domestically produced components to meet Investment Tax Credit (ITC) guidelines. Waaree Energies, based in Mumbai, operates PV module manufacturing facilities with a capacity of approximately 13.3 GW.

How will Waaree Solar's US contract impact its global manufacturing strategy?

• Expansion of Manufacturing Capacity: The US contract may prompt Waaree Solar to increase its manufacturing capacity both domestically and internationally to meet growing demand and future contracts.
• Focus on Local Production: By utilizing domestically produced components in the US, Waaree Solar might adopt a similar strategy in other regions, enhancing local supply chains and reducing dependency on imports.
• Strategic Partnerships: The contract could lead to new partnerships with US-based component suppliers, which may be replicated in other markets to strengthen global supply networks.
• Technological Advancements: The need to comply with ITC guidelines may drive Waaree to invest in advanced manufacturing technologies, which could be implemented across its global facilities.
• Market Diversification: Success in the US market might encourage Waaree to explore and enter other international markets, diversifying its global presence and reducing market risk.
• Sustainability Initiatives: The focus on using domestically produced components aligns with sustainability goals, potentially influencing Waaree's global manufacturing strategy to prioritize eco-friendly practices.
• Competitive Edge: Meeting US standards and guidelines could enhance Waaree's reputation, providing a competitive edge in securing future international contracts.
• Investment in R&D: The contract may lead to increased investment in research and development to innovate and improve module efficiency, applicable to global operations.
• Workforce Development: The need for skilled labor in the US might lead to workforce training programs, which could be expanded to other regions to ensure a skilled global workforce.
• Long-term Contracts: The success of this contract could pave the way for long-term agreements with other international power producers, stabilizing Waaree's global manufacturing output.