Waaree Energies, the country’s largest solar module manufacturer, plans to invest up to $1 billion over the next four years to build a factory in Texas, US, which will produce 5 gigawatts (GW) of solar cells and panels.
Upon completion, it will be one of the largest solar module manufacturing facilities in the US, the company said on Thursday. The facility, located in Brookshire, Texas, will have the initial capacity to manufacture 3 GW of solar modules annually by 2024-end, it said.Waaree will also add an integrated US-made solar cell facility, which is expected to be operational by 2025. In total, Waaree’s new facility, when at full capacity, is expected to create over 1,500 jobs in the US.Waaree already has a major presence in the US solar market.
Till date, it has supplied over 4 GW of modules from its current Indian facility to the US customers. Its US expansion benefits from the long-term supply agreement with SB Energy, a leading climate infrastructure and technology platform with over 2 GW of solar in operations, 1 GW in construction and another over 15 GW of solar and storage in development across the US. Waaree will supply multi-GWs of solar modules to SB Energy over the next 5 years following the commissioning of the facility, which is expected to be set up in 2024.
“In partnership with a company of SB Energy’s mission and stature, Waaree is fostering a solar manufacturing ecosystem in Texas, a state that has taken a leading position in clean energy manufacturing.” Hitesh Doshi, chairman and managing director, Waaree Energies, said.
Most major components used in the manufacturing of these solar modules will be sourced domestically, enabled in part due to the Inflation Reduction Act,” stated Sunil Rathi, board member, Waaree Solar Americas Inc. “By setting up the new facility in the Houston area, Waaree brings critical technologies that will boost American solar production, reducing reliance on overseas sources while supporting strong US jobs. We are committed to the US and its growing demand for clean energy.” he said.