‘No impact on our investment plans’: Waaree Energies amid ongoing US investigations
Waaree Energies confirmed that the US investigation into the allegation of Sun tariff smuggling, including plans to establish a solar cell production capability to reduce the dependence of the US Texas facility and to reduce its dependence on imports, confirmed that it would not affect its investment plans in the country.
One of the largest vertical integrated solar modules manufacturers, last week, is examined by US customs officials who launched an investigation on the allegation that the company’s tariffs on Chinese-made solar cells and panels were produced in India, as they were produced in India.
As reported by the news agency, “The investigation has no effect on our investment plans. Texas facility is expanding from 1.6 GW to 3.2 GW to 3.2 GW.” PTI.
Investigation and expansion plans were not affected
The company continues with expansion plans for the US solar module in Houston, Texas.
The facility, which started operations in the Houston factory in January this year, is currently scaled up to 3.2GW with its first installed capacity.
The company also stressed that the purchase of US -based Meyer Burger assets further strengthens the long -term production footprint in the country.
US response to customs investigation
Waaree cooperates with the US Customs and Border Protection (CBP) in the ongoing investigation by providing all necessary information, PTI noted.
“As a responsible corporate citizen, we have constantly complied with all the local laws and regulations in force.”
The company also confirmed that there is no operational failure or financial impact from the investigation in which the US production operations and customer deliveries were planned.
Future Plans of the Company
Waaree is also investigating more localization in the US, including the production of solar cells. He said that retrospective integration is a fundamental strategic priority and that the company has already explored similar opportunities in the United States, although the company already has significant solar cell production capability.
The company said in a statement, “We evaluate the options for the US cell production and the options in line with market demand and future investments will support our goal of becoming a holistic clean energy transition company that serves US customers,” he said.
Waaree currently serves the US market through the Texas production facility, which aims to rely on imports by maintaining a diversified supply chain in more than one country to avoid any single resource addiction. PTI.
