India's Waaree bets on US solar boom, expands local sourcing on data-centre growth

Waaree Technologies

28/10/2026 07:19

    By Sethuraman N R
       NEW DELHI, Oct 28 (Reuters) - India's top solar module
maker Waaree Energies  WAAN.NS  is expanding manufacturing and
localising supplies in the US in a bet on rising power demand
for data centres, Chief Financial Officer Abhishek Pareek said.
    * Waaree would "double down" on its U.S. manufacturing
footprint as new import rules, and other duties imposed by the
U.S., make it expensive to supply the market from India, Pareek
said in an interview.
    * Waaree's U.S. module manufacturing capacity is set to
increase to 4.8 GW by the end of the fiscal year from 1.6 GW
currently.
    * The company expects overseas revenue to increasingly come
from local U.S. operations rather than exports from India. 
    * Historically, Waaree supplied about 2-2.5 GW annually to
overseas customers, but Pareek said volumes could "easily be
around double" those levels because of new U.S. capacity.
    * The company already has an order book of more than 10 GW
from the U.S, giving visibility for the next two to three years,
Pareek said.
    * Cells used in the U.S. were previously imported and the
company is now trying to source the supply locally.
    * By the end of calendar 2027, Waaree expects to have "a lot
of sources" for supplies from within the United States itself,
Pareek said.
    * Demand in the US remains robust, driven in part by the
rapid expansion of data centres and their growing electricity
needs, he said. 


    (Reporting by Sethuraman NR; Editing by Neil Fullick)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))