Latest news with #WaareeSolarAmericas
Yahoo
02-06-2025
- Business
- Yahoo
Waaree Solar Americas signs 586MW solar module supply deal
Waaree Solar Americas, a US subsidiary of India's solar photovoltaic (PV) module manufacturer Waaree Energies, has signed a solar module supply agreement with a US-based independent power producer (IPP). The $176m deal bolsters Waaree's presence in the US solar market. The 586MW modules will be manufactured at Waaree's manufacturing facility in Brookshire, Texas. Deliveries are scheduled for the financial years 2026 and 2027 and will be distributed across four projects. The production will incorporate domestically sourced components, adhering to the investment tax credit (ITC) guidelines, which emphasise domestic content requirements. Waaree Solar Americas president Sunil Rathi stated: 'This agreement reflects Waaree's unwavering commitment to building a resilient, robust and technologically advanced clean energy supply chain in the United States. 'In a landscape marked by shifting trade dynamics and an increasing emphasis on domestic manufacturing, our Brookshire facility stands uniquely equipped to meet market demand with high-quality, US-made modules. This milestone not only underscores global confidence in Waaree's quality and reliability but also bolsters America's energy transition, enhances job creation and strengthens long-term energy security." The agreement will facilitate enhancing the US clean energy supply chain's resilience and reliability, particularly in light of changing trade and energy policies. Waaree's strategic approach positions it as a dependable global PV module manufacturer with a resilient supply chain designed to mitigate trade risks and maintain supply continuity. As US energy demand escalates, driven by developments in AI infrastructure and industrial expansion, Waaree aims to continue its focus on delivering scaleable, clean energy solutions. Rathi added: 'Our collaboration reflects a mutual commitment to advancing America's energy security objectives through a resilient domestic supply chain, supported by Waaree's extensive manufacturing expertise developed over decades in India. We are proud to contribute to our partner's ambitious project pipeline with our high-performance solar modules." In January 2025, Waaree Energies signed a share purchase agreement with Enel Green Power Development to acquire 100% of the share capital of Enel Green Power India. "Waaree Solar Americas signs 586MW solar module supply deal" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Standard
29-05-2025
- Business
- Business Standard
Waaree Energies jumps as U.S. subsidiary secures $176 million solar module order
Waaree Energies surged 6.69% to Rs 2,984 after the company announced that its wholly owned subsidiary, Waaree Solar Americas, has secured an order worth $176 million from a prominent U.S.-based client. According to an exchange filing, Waaree Solar Americas received the order on 28 May 2025 for the supply of 586 MW of solar modules. The customer is a well-established developer and operator of utility-scale solar and energy storage projects across the United States. The delivery of solar modules under this contract is scheduled to commence in the financial year 202627. The company clarified that the contract does not involve any related party transactions and confirmed that neither the promoter, the promoter group, nor any group companies have any interest in the awarding entity. Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 15 GW for solar PV modules and 5.4GW for solar cells. With presence across India and 25+ countries worldwide, we offer innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems. The company reported 34.10% surge in consolidated net profit to Rs 618.91 crore in Q4 FY25 as against Rs 461.52 crore posted in Q4 FY24. Revenue from operations climbed 36.38% year on year (YoY) to Rs 4,003.93 crore in the quarter ended 31 March 2025.
Business Upturn
29-05-2025
- Business
- Business Upturn
Waaree Energies subsidiary secures $176 million order for 586 MW solar modules in the US
By Aman Shukla Published on May 29, 2025, 13:28 IST Waaree Solar Americas, a wholly owned subsidiary of Waaree Energies Limited, has received a major international order for the supply of 586 MW solar modules, valued at USD 176 million. The order was confirmed on May 28, 2025, and marks a significant milestone for Waaree's global operations. The contract comes from a renowned U.S.-based developer and owner-operator of utility-scale solar and energy storage projects. This one-time order highlights Waaree's growing footprint in the international renewable energy market, particularly in North America. According to the company, the delivery of solar modules is scheduled to commence in the financial year 2026-27, with the supply tailored to meet the specific requirements of utility-scale solar installations. This development underlines Waaree Energies' commitment to providing high-efficiency solar solutions and accelerating the transition to clean energy globally. With this strategic win, Waaree Energies continues to solidify its position as a leading global solar module manufacturer and exporter. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
06-04-2025
- Business
- Yahoo
Major solar manufacturer opens massive new factory in unexpected state: 'A crown jewel for us'
Renewable energy received a major boost in Texas with the opening of a 1.6-gigawatt solar module factory in Brookshire. Waaree Solar Americas, a subdivision of Indian conglomerate Waaree Energies, began production in January 2025. The manufacturer told PV Magazine, "The launch of commercial production marks a critical step in localizing solar manufacturing in the United States, contributing to job creation and economic growth while reducing reliance on imported solar products." The company plans to ramp up production in 2026 to three gigawatts and five gigawatts by the end of 2027. For reference, one gigawatt is enough energy to power around 876,000 homes for a year, per Carbon Collective. Texas is a fitting choice for the new facility as the Lone Star State is one of the country's most enthusiastic adopters of solar energy. Solar power is incredibly popular across the political spectrum in the United States, with a recent poll finding that almost 90% of citizens support federal incentives to install it. That popularity isn't difficult to explain. As a clean energy source, it appeals to environmentally conscious homeowners, while the potential savings make solar attractive to more fiscally minded consumers. Homeowners who take the plunge enjoy huge savings on their bills, which amount to tens of thousands over the panels' lifetime. Such is the bipartisan appeal of rooftop solar panels that when the Inflation Reduction Act offered incentives to lower the installation costs, Republican-leaning states were the biggest beneficiaries. Seven of the top ten states for solar panels in 2023 backed Trump in the 2024 election. However, the future of solar subsidies is uncertain, with the current administration ordering a pause on IRA funding until April. Additionally, uncertainty over tariffs could make importing materials difficult, but Waaree seems to have anticipated that prospect. CEO Amit Paithankar believes the company is in a good position regardless of what unfolds next. He told Moneycontrol it is uniquely placed to move in whatever direction is necessary. "Our Texas facility will be a crown jewel for us," Paithankar said. "Depending on whichever way the policy framework in the US shapes up, we will be in a good position." Do you think solar panels are an eyesore? Absolutely not Only in certain areas They always look bad I don't have an opinion Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
