India’s Waaree Energies announced today that it will open its first US solar panel factory in the Houston area.
The large solar panel manufacturer, which already supplies panels to the US, will open its factory in Brookshire, just east of Houston. It will have the initial capacity to manufacture 3 gigawatts (GW) of solar modules annually by the end of 2024.
Waaree plans to invest up to $1 billion over the next four years to scale its annual solar panel production to 5 GW by 2027, which would make it one of the largest solar panel factories in the US.
Waaree will also add an integrated US-made solar cell facility that’s expected to be operational by 2025. The company expects its new factory to create over 1,500 jobs in the US at total capacity.
Sunil Rathi, Waaree’s head of US business operations, said:
Most major components used in the manufacturing of these solar modules will be sourced domestically, enabled in part by the Inflation Reduction Act.
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.
Waaree has supplied more than 4 GW of made-in-India solar panels to US customers.
A five-year supply agreement with Redwood City-based SB Energy is bolstering Waaree’s US expansion plan. SB Energy has more than 2 GW of solar in operation, 1 GW under construction, and another 15 GW of solar and storage in development in the US.
Read more: This modular solar canopy only takes 6 hours to install
Photo: Los Muertos Crew on Pexels.com
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December 22, 2023 at 03:17AM
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