Waaree Energies' US Growth Unfazed Despite Tariff Inquiry

Waaree Energies has announced that an ongoing US customs investigation into potential tariff evasion will not derail its investment plans in the United States. The company, one of the largest vertically integrated solar manufacturers, is pressing ahead with its expansion at the Texas facility, increasing its capacity from 1.6 GW to 3.2 GW by the 2027 fiscal year.

In light of the inquiry, Waaree reaffirmed its commitment to building its manufacturing footprint in the US, marking the acquisition of US-based Meyer Burger assets as a strategic move. The investigation, focused on whether solar cells and panels were mislabeled to bypass tariffs, has not disrupted operations or impacted Waaree's financial forecasts.

Despite these challenges, the outlook for the US solar market remains robust with strong demand. Waaree is prioritizing backward integration, exploring solar cell manufacturing opportunities in the US to strengthen its domestic production. The company maintains a diversified supply chain to ensure compliance and continuity amid evolving trade policies.