Waaree Announces $200mn Investment To Expand US Operations

Waaree Announces $200mn Investment To Expand US Operations

Waaree Solar Americas Inc., a wholly owned subsidiary of India-based Waaree Energies Ltd., announced an additional investment of $200 million in the United States at the SelectUSA Investment Summit hosted by the U.S. Department of Commerce.

The new investment will focus on battery energy storage systems, aimed at boosting the company’s technological capabilities and supporting the widespread adoption of cost-efficient energy solutions across the U.S.

This follows Waaree Energies’ earlier commitment to invest up to $1 billion in the U.S. solar ecosystem, bringing the company’s total planned investment in the country to $1.2 billion by 2028.

“This additional $200 million investment in battery energy storage will not only enhance our technology but also drive large-scale adoption of affordable energy solutions in the U.S.,” said Dr. Amit Paithankar, whole-time director and CEO of Waaree Energies Ltd. “Our decision reflects the immense market potential in the American energy sector. We are proud to support economic development and job creation in the communities we operate in.”

The expansion is expected to create an additional 300 to 500 jobs over the next few years, adding to the 1,500 already announced. In total, the company projects the creation of 1,800 to 2,000 jobs in the U.S.

Waaree cited several factors behind its decision to expand in the U.S., including the size and dynamism of the American energy market, and the growing demand for reliable power in sectors such as artificial intelligence and data centers. The company also noted that solar energy remains the most cost-effective and rapidly deployable power source.

Waaree Solar Americas recently announced the expansion of its solar module manufacturing facility in Brookshire, Texas. The facility, currently operating at 1.6 GW capacity, is expected to double to 3.2 GW in the near future.