India's Waaree Energies Doubles Down on U.S. Manufacturing: U.S. Module Capacity to Reach 4.8 GW by Fiscal Year-End, U.S. Order Book Tops 10 GW
India's top solar module maker Waaree Energies (WAAN.NS) is expanding manufacturing and localising supplies in the United States in a bet on rising power demand from data centres, Chief Financial Officer Abhishek Pareek said in an interview reported by Reuters on October 28.
Pareek said Waaree would "double down" on its U.S. manufacturing footprint, as new U.S. import rules and other duties make it expensive to supply the market from India. The company's U.S. module manufacturing capacity is set to increase to 4.8 GW by the end of the fiscal year, from 1.6 GW currently, and it expects overseas revenue to increasingly come from local U.S. operations rather than exports from India.
Historically, Waaree supplied about 2 to 2.5 GW annually to overseas customers, but Pareek said volumes could easily be around double those levels because of the new U.S. capacity. The company already has an order book of more than 10 GW from the United States, giving it visibility for the next two to three years.
Cells used in the United States were previously imported, and the company is now trying to source the supply locally; by the end of calendar 2027, Waaree expects to have a lot of sources for supplies from within the United States itself. Demand in the U.S. remains robust, driven in part by the rapid expansion of data centres and their growing electricity needs, Pareek said.
Source: GSM · USA (original Chinese edition)
Photo: 位于加州的 Topaz 太阳能电场组件阵列（资料图）。Sarah Swenty 摄，美国鱼类及野生动物管理局 USFWS，公共领域，经 Wikimedia Commons。 / Solar panels at the Topaz Solar Farm in California (file photo). Photo by Sarah Swenty, U.S. Fish and Wildlife Service, public domain, via Wikimedia Commons.
