Waaree Energies is under investigation in the US regarding alleged duty evasion on solar imports. The company emphasizes its commitment to cooperating with US authorities. Waaree highlights that the US is a key manufacturing base, with a 1.6GW module facility in Texas, expanding to 3.2GW. They are dedicated to building a robust manufacturing footprint in the US and abiding by local laws.
US Investigation
Waaree Energies is addressing a news item concerning a US investigation into alleged duty evasion on solar imports. The company confirms its cooperation with ongoing investigations and its commitment to responsible corporate citizenship.
US Manufacturing Expansion
The United States represents a significant manufacturing hub for Waaree Energies. The company’s subsidiary, Waaree Solar Americas, operates a 1.6GW module manufacturing facility in Texas, with plans to expand to 3.2GW. Recent acquisitions of Meyer Burger, US assets will support increased US manufacturing. Waaree is focused on strengthening its manufacturing footprint in the US.
Commitment to Compliance
Waaree Energies emphasizes its dedication to complying with all applicable local laws and regulations in every country where it operates. The company is cooperating with US investigations. Any updates will be disclosed as required.
Market-Driven Share Price
The company states that movement in the share price is market-driven. There is no Unpublished Price Sensitive Information pending to be disclosed to the stock exchanges.
Source: BSE
