As per The Economic Times report, Waaree Energies, a leading solar module manufacturer, is contemplating enhancing its presence in the US by establishing a solar cell manufacturing unit.
This comes as part of its strategy to boost operations and increase market share in the rapidly expanding US solar market.
The company, already operating a solar module manufacturing facility in the US, plans to expand its capacity from 1.6 GW to 4.5 GW over the next 6 months.
Hitesh Doshi, the chairman and managing director, indicated that after this expansion, Waaree may consider creating a solar cell unit to further bolster its US footprint.
The US solar market, with an annual demand of 50-60 GW, relies heavily on imports, with 80-85% of its needs being imported.
Waaree Energies aims to gain a significant share by aligning its offerings with regulatory requirements and customer preferences. Currently, the company holds a modest share which it aims to increase through local production.
In a significant move last September, Waaree Solar Americas Inc, a subsidiary of Waaree Energies, acquired the US assets of the Swiss firm Meyer Burger for $18.5 million (₹164 crore).
This acquisition included an assembly line capable of producing 1 GW of solar modules annually using heterojunction technology (HJT).
In India, Waaree Energies commands a 15-18% market share and plans to broaden its reach across the entire renewable energy value chain, including battery storage, electrolysers, inverters, and other components.
The company targets boosting its annual revenue to ₹1 trillion by 2030, supporting this strategy with a ₹10,000 crore fundraising initiative.
Read More: Waaree Energies Share Price in Focus: Its Subsidiary Signs PPA with SECI for 300MW Wind Project!
As of May 11, 2026, at 9:23 AM, Waaree Energies share price on NSE was trading at ₹3,237.40 up by 0.23% from the previous closing price.
Waaree Energies is actively working to expand its influence in the global solar market. With significant capacity expansion plans and strategic acquisitions, it is poised to play a substantial role in both the US and Indian renewable energy sectors.
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Published on: May 11, 2026, 10:11 AM IST
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