Company targets higher US market share alongside India-focused energy transition push.

Waaree Energies Considers Solar Cell Manufacturing Unit in the US.

Waaree Energies is evaluating the possibility of setting up a solar cell manufacturing facility in the United States as part of its strategy to expand in the fast-growing US solar market. Chairman and Managing Director Hitesh Doshi said the move will be considered after the company completes the expansion of its US solar module capacity to 4.5 GW from the current 1.6 GW over the next six months. Waaree already operates a module manufacturing unit in the US and strengthened its presence last year through its subsidiary Waaree Solar Americas Inc by acquiring US assets of Meyer Burger for $18.5 million. The acquisition included a 1 GW heterojunction technology assembly line. With the US solar market demanding 50–60 GW annually and heavily reliant on imports, Waaree aims to grow its currently small market share by aligning closely with local regulations and customer needs. In India, the company plans to build a full energy transition ecosystem and is preparing a ₹10,000 crore fundraising to support its ambitious growth and diversification plans.