Waaree Energies Plants $1 Billion U.S. Solar Module Factory, Boosting Domestic Supply Chain

Indian solar giant sows seeds for 5 GW solar module manufacturing facility in Texas, bolstering U.S. supply chain and creating over 1,500 jobs

Indian solar giant Waaree Energies announced plans to establish its first U.S. manufacturing facility in the Houston area, marking a significant step towards bolstering the nation’s domestic solar supply chain. The sprawling facility, slated to commence operations by the end of 2024, will initially churn out a whopping 3 gigawatts (GW) of solar modules annually.

But Waaree’s ambitions don’t stop there. Over the next four years, the company plans to inject up to $1 billion into the project, scaling up production to a colossal 5 GW by 2027. This audacious move positions the facility as one of the largest solar module manufacturing giants in the U.S., solidifying Waaree’s commitment to American clean energy.

Beyond modules, Waaree aims to integrate U.S.-made solar cell production by 2025, further strengthening the domestic ecosystem. When fully operational, the facility is expected to generate over 1,500 jobs, injecting new lifeblood into the American workforce.

This expansion isn’t merely a solo endeavor. Waaree has secured a long-term supply agreement with SB Energy, a leading climate infrastructure and technology platform, paving the way for a robust partnership. Under the agreement, Waaree will supply several gigawatts of solar modules to SB Energy for its expanding portfolio of projects across the U.S.

“We are thrilled to broaden our U.S. supply chain with Waaree, a global leader in solar modules,” expressed Abhijeet Sathe, co-CEO of SB Energy. “This collaboration strengthens our commitment to fostering the domestic solar supply chain and creating high-quality manufacturing jobs.”

Waaree’s Chairman and Managing Director, Hitesh Doshi, echoed the sentiment, highlighting the company’s pride in contributing to U.S. solar manufacturing prowess. “In partnership with SB Energy, we aim to nurture a thriving solar ecosystem in Texas, a state at the forefront of clean energy manufacturing.”

Sunil Rathi, Board member of Waaree Solar Americas Inc., emphasized the role of the Inflation Reduction Act in facilitating domestic sourcing of key components. “This legislation empowers us to utilize domestically sourced materials, boosting American solar production and reducing reliance on overseas sources while creating valuable jobs.”

Waaree’s U.S. foray reflects a larger trend of Indian solar companies increasingly setting their sights on American shores. This influx of expertise and investment promises to accelerate the nation’s transition to clean energy, creating both environmental and economic benefits. With Waaree leading the charge, the future of American solar looks bright, powered by innovation, collaboration, and unwavering commitment to sustainability.

Key Takeaways:

  • Waaree Energies invests $1 billion in first U.S. solar module manufacturing facility.
  • Facility to produce 3 GW of modules annually initially, increasing to 5 GW by 2027.
  • Partnership with SB Energy ensures multi-GW module supply for domestic projects.
  • U.S.-made solar cell production planned by 2025.
  • Over 1,500 jobs expected to be created at full capacity.
  • Move strengthens U.S. domestic solar supply chain and reduces reliance on overseas sources.