Waaree Solar Americas Inc., a wholly owned subsidiary of Waaree Energies Limited, announces an additional $200 million investment at the U.S. Department of Commerce’s SelectUSA Investment Summit in Washington, D.C. This incremental investment will focus specifically on battery energy storage, enhancing our technological capabilities and driving the mass-scale adoption of cost-efficient energy solutions across the USA. In a previous announcement, parent company Waaree Energies Ltd. committed to investing up to $1 billion in the US solar ecosystem. This brings the total commitment to $1.2 billion by 2028.
This expansion is part of Waaree Group’s ongoing commitment to the US market and its strategic vision for cost-efficient energy solutions.
“The additional $200 million investment in battery energy storage will not only enhance our technological capabilities but also drive the mass-scale adoption of cost-efficient energy solutions across the USA. Our decision to invest was primarily driven by the significant market potential in the energy sector. We are proud to contribute to the economic development and job creation in the communities we serve.”
– Dr. Amit Paithankar, Wholetime Director and CEO, Waaree Energies Limited.
This expansion is expected to create an additional 300-500 jobs over the next few years, adding to the 1,500 jobs already announced. In total, Waaree Solar Americas Inc.’s investment will generate approximately 1,800-2,000 new jobs, reflecting our dedication to driving growth and innovation in the energy sector while contributing to economic development in the communities we serve.
Waaree Group chose to invest in the United States for several compelling reasons. The US boasts one of the largest and most dynamic energy markets in the world, offering significant opportunities for growth and innovation. Additionally, the US is at the forefront of technological advancements, particularly in AI and data centers, which require substantial and reliable power sources. Our investment aligns with these growing demands. Furthermore, solar energy is currently the cheapest source of power and the fastest to commission, making it an ideal choice for our expansion efforts.
Waaree Solar Americas Inc. recently announced the expansion of its solar module manufacturing facility in Brookshire, Texas. The facility, which currently operates at 1.6 GW capacity, will soon be expanded to 3.2 GW.
