WAAREEENER

Strategic Shift into Energy Storag

Waaree Energies has recently reinforced its position as India's largest solar module manufacturer while aggressively expanding its footprint in the United States and the energy storage sector. The company has navigated significant international trade shifts and reached record-breaking production milestones in early 2026. Major Expansion & Capacity Milestones Production Record: In January 2026, Waaree became the first Indian solar company to produce more than 1 GW of solar modules in a single month (achieved in November). Global Capacity: The company's aggregate solar module manufacturing capacity has reached 22.3 GW globally, with 19.7 GW in India and 2.6 GW in the US. US Manufacturing Ramp-up: To mitigate the impact of new US trade barriers, Waaree is expanding its US module capacity from 2.6 GW to 4.2 GW by mid-2026. This includes a 1.6 GW facility in Texas and the acquisition of a 1 GW facility in Arizona. Inverter Segment: In late 2025, the company commissioned a new 3.05 GW solar inverter manufacturing plant in Gujarat, marking a significant step toward becoming a vertically integrated energy provider. Strategic Shift into Energy Storage Battery Gigafactory: Waaree has finalized plans for a massive 20 GWh lithium-ion cell and battery energy storage system (BESS) manufacturing facility. Capital Infusion: The company's energy storage subsidiary raised approximately ₹1,003 crore ($120 million) in early 2026 to fund this expansion. Discussions are currently underway with the Government of Andhra Pradesh and other states for the project's location. Navigating US Trade Duties In February 2026, the US Department of Commerce imposed a preliminary 126% countervailing duty on solar imports from India.