Waaree Energies is expanding its US manufacturing footprint and evaluating solar cell production to strengthen localisation and capture a larger share of the growing American solar market.
Waaree Energies is accelerating its global growth strategy with a strong focus on investments and capacity expansion in the United States, aiming to strengthen its position in one of the world’s fastest-growing solar markets. According to a report by The Economic Times, the company is evaluating the establishment of a solar cell manufacturing facility in the US as part of its long-term localisation strategy.
The company is currently expanding the capacity of its existing US solar module manufacturing facility from 1.6 GW to 4.5 GW, a scale-up expected to be completed within the next six months. Chairman and Managing Director Hitesh Doshi stated that once this expansion is operational, Waaree may move ahead with investments in a dedicated solar cell plant to deepen its manufacturing presence and improve supply chain integration.
Investment-led expansion has already begun. In September last year, Waaree Solar Americas Inc., the firm’s US subsidiary, acquired American assets of Swiss solar technology company Meyer Burger for $18.5 million. The deal included a heterojunction (HJT) technology-based assembly line capable of producing 1 GW of solar modules annually, strengthening Waaree’s advanced manufacturing capabilities in North America.
The strategic push comes as the US solar market records annual demand of nearly 50–60 GW while remaining heavily dependent on imports, which supply around 80–85% of total requirements. By expanding local production, Waaree aims to align with regulatory policies and customer preferences while increasing its currently modest market share.
In India, Waaree Energies holds an estimated 15–18% share of the solar module market and is expanding across the renewable energy ecosystem, including battery storage, electrolysers, inverters, and other clean-energy components. Supporting its growth ambitions, the company plans a ₹100 billion fundraising initiative as it targets annual revenue of ₹1 trillion by 2030.
As of May 11, 2026, at 9:23 AM, Waaree Energies’ shares were trading at ₹3,237.40 on the NSE, up 0.23% from the previous close, reflecting steady investor confidence amid its global expansion plans.
