Waaree Energies provided an update following US reports of preliminary countervailing duties of 126% on Indian solar imports. The company remains confident, citing its diversified supply chains, investments in Oman for non-Chinese polysilicon, and significant existing U.S. manufacturing capacity. Waaree aims to expand its U.S. module capacity to 4.2 GW by the end of FY27, expecting no material adverse impact on its U.S. order book.
Response to US Countervailing Duty Announcements
This communication addresses recent media reports concerning the U.S. Department of Commerce’s imposition of preliminary countervailing duties, reaching as high as 126%, on specific solar imports originating from India. The company noted that this matter is still under ongoing regulatory proceedings, with a final outcome anticipated over the next few months.
Supply Chain Resilience and Diversification
Waaree confirmed that despite the earlier imposition of a 50% duty on imports from India, the company successfully ramped up deliveries for U.S. shipments during the first nine months of FY26 (9MFY26). This resilience has been achieved through the alternate and diversified supply chains developed over the years. As a core strength, the company continues to reinforce this strategy, including announced investments in Oman aimed at securing fully traceable, non-Chinese polysilicon supply.
Strengthening U.S. Manufacturing Footprint
As part of its long-term strategy to localize production for the U.S. market, Waaree has been progressively strengthening its domestic manufacturing presence. As of the announcement date, the company holds an aggregate U.S. module manufacturing capacity of approximately 2.6 GW, which includes capacity gained from the acquisition of the Meyer Burger facility. Furthermore, Waaree is actively expanding this U.S. capacity to reach approximately 4.2 GW by the end of FY27.
Outlook and Order Book Certainty
Based on internal assessments and the current order book, the company anticipates that its existing and planned U.S. manufacturing capabilities will substantially support all current U.S. customer commitments. Waaree reaffirms its commitment to expanding localized manufacturing and supply chain diversification. At this stage, the company does not anticipate any material adverse impact on its ability to service its existing U.S. order book.
Source: BSE
