Waaree Energies Ltd, one of India’s leading solar energy companies, is eyeing expansion into the US market despite the looming threat of tariffs on imported goods. With the growing demand for renewable energy solutions globally, Waaree is focusing on strategies to navigate tariff challenges while positioning itself to tap into the lucrative US market.
The company’s approach combines innovative technologies, strategic partnerships, and careful market entry planning to overcome trade barriers and ensure long-term growth in this competitive landscape.
During Friday’s trading session, the shares of Waaree Energies Ltd reached an intra-day high of Rs.2,994.00 per share, rising 4.4 percent from its previous close of Rs.2,867.30 each. The shares have retreated since then and closed at Rs.2,914.00 apiece. Since its IPO issue price, the shares have delivered over 90 percent returns.
US Market Expansion
Waaree Solar Americas Inc., a wholly owned subsidiary of Waaree Energies Limited, has unveiled an additional $200 million investment at the U.S. Department of Commerce’s SelectUSA Investment Summit in Washington D.C. This new funding will be dedicated to advancing Battery Energy Storage, strengthening the company’s technological capabilities, and promoting the widespread adoption of affordable energy solutions across the United States.
Previously, parent company Waaree Energies Ltd. had committed up to $1 billion to the US solar sector, bringing the total investment commitment to $1.2 billion by 2028. This expansion is a key element of Waaree Group’s sustained dedication to the US market and its strategic vision of delivering cost-effective energy solutions.
Dr. Amit Paithankar the Wholetime Director and CEO of Waaree Energies Limited, added, “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.”
Waaree Group’s decision to invest in the United States stems from a combination of strategic factors. As one of the world’s largest and most vibrant energy markets, the US presents immense growth and innovation prospects. The country’s leadership in technological advancements, particularly in AI and data centers, creates a strong demand for dependable and substantial power sources, which aligns perfectly with Waaree’s investment goals. Solar energy, being the most affordable and quickest to deploy power source, positions itself as a natural fit for this expansion.
In line with its commitment to the US market, Waaree Solar Americas Inc. has announced the expansion of its solar module manufacturing plant in Brookshire, Texas. The facility, which currently operates at a capacity of 1.6 GW, will soon scale up to 3.2 GW, reinforcing the company’s presence and contribution to the growing energy demands.
Financial Performance
In the fourth quarter of FY25, the company posted revenue of Rs.4,004 crore, reflecting a strong 36 percent rise over Rs.2,936 crore reported in the same period last year. Sequentially, the revenue advanced by 16 percent from Rs.3,457 crore in Q3 FY25, signaling consistent growth momentum in operations.
The quarterly net profit stood at Rs.644.47 crore, up 36 percent year-on-year from Rs.475.16 crore in Q4 FY24. On a quarter-on-quarter basis, earnings improved by 27 percent compared to Rs.506.88 crore recorded in the previous quarter, underscoring healthy profitability and operational efficiency.
The company is projecting strong year-on-year growth in EBITDA, driven by rising demand and continued operational excellence. For FY26, it has provided guidance indicating expected EBITDA in the range of Rs.5,500 to Rs.6,000 crores, reflecting confidence in its growth trajectory and efficient execution capabilities.
Written by – Siddesh S Raskar
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