Waaree Energies to build 5 GW solar cell, module factory in US
India’s Waaree Energies says it will build a solar module manufacturing facility with an initial capacity of 3 GW per year by December 2024. It plans to ramp up to an integrated 5 GW cell facility by 2027 and has already secured an offtake contract with SB Energy.
From pv magazine India
Waaree Energies, India’s largest PV module manufacturer, said this week that it will set up its first US manufacturing facility close to Houston, Texas. The solar module factory, to be built in the town of Brookshire, will have an initial annual production capacity of 3 GW by the end of 2024.
Waaree said it plans to invest up to $1 billion over the next four years to scale the US facility’s capacity up to 5 GW by 2027 – potentially making it one of the largest solar module factories in the United States.
The company said it will also add an integrated solar cell facility at the site. It plans to make it operational by 2025.
In total, Waaree’s new production plan is expected to create more than 1,500 total jobs, once it is at full capacity.
Waaree already has a major presence in the US solar market. It said it has supplied more than 4 GW of modules from its current Indian facility to US customers to date.
Waaree’s ambitious US expansion plan has the support of a long-term supply agreement with SB Energy, which has more than 2 GW of solar in operation, 1 GW under construction, and another 15 GW of solar and storage in development across the United States.
Waaree aims to supply multiple gigawatts of solar modules to SB Energy over the next five years, following the commissioning of the Brookshire facility, which is expected to be operational in 2024.
Most of the major components used for the production of the solar modules will be sourced domestically, said Waaree.