Waaree Energies announced it will be setting up its first manufacturing facility in US.
In a release, Waaree said that the facility, to be located in Brookshire town, Houston, Texas, will have initial capacity to manufacture 3 GW of solar modules annually, and will go on stream by end of 2024.
Waaree plans to invest up to $1 billion over the next four years to scale its annual module manufacturing production up to 5 GW by 2027, making it one of the largest solar module manufacturing facilities in the US.
Waaree will also add an integrated US-made solar cell facility that is expected to be operational by 2025. In total, Waaree’s new facility is expected to create over 1,500 total jobs in the US when at full capacity, the release said.
US presence
Waaree already has major presence in the US solar market. Till date Waaree has supplied over 4 GW of modules from its current Indian facility to US customers. Waaree’s ambitious US expansion benefits from the long-term supply agreement with SB Energy, a leading climate infrastructure and technology platform with over 2 GW of solar in operations, 1 GW in construction, and another 15 GW+ of solar and storage in development across the US.
Waaree will supply multi-GWs of solar modules to SB Energy over the next five years following the commissioning of the facility which is expected to be set-up in 2024.The deal further enhances SB Energy’s leadership in the domestic supply chain and ensures availability of modules for a growing pipeline of projects.
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Significant commitment
“We are proud of this significant commitment by Waaree to US domestic solar manufacturing,” said Waaree Chairman & Managing Director Hitesh Doshi. “In partnership with a company of SB Energy’s mission and stature, Waaree is fostering a solar manufacturing ecosystem in Texas, a state that has taken a leading position in clean energy manufacturing.
