Waaree To Triple US Solar Module Capacity As Data-Centre Demand Surges
What Happened
Waaree Energies plans to expand its US solar-module manufacturing capacity from 1.6 GW to 4.8 GW by the end of the fiscal year, while increasing local sourcing as US import rules and duties make supplying the market from India more expensive. The company already has a US order book exceeding 10 GW. CFO Abhishek Pareek said demand remains strong partly because rapidly expanding US data centres require increasing amounts of electricity. Waaree expects more of its overseas revenue to come from its US operations rather than exports from India.
Key Takeaways
Waaree is shifting towards a more locally manufactured US supply chain, betting that data-centre-driven electricity demand will sustain growth in the American solar market.