PVTIME – Waaree Solar, the US subsidiary of India’s leading PV module manufacturer, Waaree Energies, has signed a $176 million supply agreement to deliver 586 MW of solar modules to a major US independent power producer. This significant deal, which will be fulfilled by the company’s Texas factory between 2026 and 2027, represents a major step for Waaree Solar in the North American renewables market.
The modules will incorporate components manufactured in the US to comply with Investment Tax Credit (ITC) rules, thereby aligning with Washington’s push for domestic clean energy supply chains. Waaree’s Brookshire plant, which has been operational since 2024, uses the group’s 40 years of manufacturing expertise to meet demand fuelled by the Inflation Reduction Act.
Waaree Energies, India’s second-largest solar player, dominated Q1 with shipments of over 2GW, outpacing Chinese rivals like Trina Solar, according to JMK Research. The company ranked second in India’s 2025 market with a 10.7% share (Mercom). The top five Indian manufacturers captured over 50% of module sales in the quarter.
The deal highlights Waaree’s dual strategy of scaling its 12GW Indian capacity while establishing regional hubs to navigate trade barriers. This positions the firm to compete with Chinese peers such as JinkoSolar, who are also accelerating their deployments in North America.
Scan the QR code to follow PVTIME official account on Wechat for latest news on PV+ES
