Waaree Energies Ltd. Anticipates No Material Adverse Impact on U.S. Order Book Despite 126% Countervailing Duties
Waaree Energies Ltd. has provided an update in relation to the news article on the imposition of preliminary countervailing duties of 126% by the U.S. Department of Commerce on certain solar imports from India. The company has been ramping up its deliveries for U.S. shipments despite the earlier imposition of a 50% duty on imports from India, enabled by alternate and diversified supply chains. Waaree has a U.S. module manufacturing capacity of approximately 2.6 GW and is expanding it to 4.2 GW by the end of FY27. Based on the current order book and internal assessments, the company expects its U.S. manufacturing capacity to support its existing U.S. customer commitments, with no material adverse impact anticipated. Waaree remains committed to expanding localized manufacturing in the U.S. and diversifying its supply chain across geographies.
Key Highlights
- Waaree Energies Ltd. expects no material adverse impact on its ability to service its U.S. order book despite 126% countervailing duties.
- The company has been ramping up its deliveries for U.S. shipments despite the earlier imposition of a 50% duty on imports from India.
- Waaree has a U.S. module manufacturing capacity of approximately 2.6 GW, expanding to 4.2 GW by FY27.
- The company's diversified sourcing strategy and U.S. manufacturing footprints remain core strengths.
- Waaree is committed to expanding localized manufacturing in the U.S. and diversifying its supply chain across geographies.