Wed Nov 06 20:20:31 UTC 2024: ## Waaree Energies Poised for Growth Amidst Potential US Trade Tensions
**Mumbai, India** – Indian solar module manufacturer Waaree Energies Ltd. is poised to benefit from potential US trade policies under a Donald Trump presidency, according to industry experts.
Trump has previously advocated for significant tariffs on imports from China, including a 60% or higher tariff on solar modules. This could significantly benefit Indian solar exporters like Waaree Energies, who have already seen a surge in US exports following previous US barriers on Chinese imports.
JM Financials reports that India’s solar module exports to the US have increased from Rs 600 crore in fiscal 2021 to Rs 10,500 crore in fiscal 2025.
However, Waaree Energies could face challenges if the US implements higher tariffs on solar imports from other countries, including India. To mitigate this risk, the company has established a US subsidiary, Waaree Solar Americas Inc., and is investing heavily in US manufacturing.
The company is building a 1.6 GW module manufacturing facility in Houston, Texas, with plans to expand to 3 GW by fiscal 2026 and potentially 5 GW by fiscal 2027. Waaree also plans to establish a 5 GW solar cell facility in the US by fiscal 2027 to qualify for Inflation Reduction Act incentives.
Waaree Solar Americas Inc. has already secured a 5-year binding agreement with a customer for supplying 3.75 GW of solar modules, ensuring demand for their US-made products.
While potential tariffs on Indian exports remain a concern, Waaree Energies’ strategic investments in US manufacturing could position the company for continued growth in the US market, regardless of the political climate.
First Piper 