On November 11, 2024, In his victory speech, President-elect Donald Trump stated that he would halt renewable energy projects on his “first day” in office.
At present, numerous major Indian companies export solar modules to the US. Waaree Energies also generates a portion of its revenue from US exports and may have to revise its expansion strategy if the US focuses more on domestic manufacturing.
The company plans to establish a 1.6 GW module manufacturing facility in Houston, Texas, with an aim to increase capacity to 3 GW by fiscal 2026 and potentially reach 5 GW by 2026-2027, based on market demand.
Additionally, the company aims to set up 5 GW solar cell facility in the U.S. by fiscal 2027 to bolster module production and meet requirements for Inflation Reduction Act incentives; site selection and feasibility assessments are underway.
The United States prioritising home production over imports can impact Indian companies that rely on US exports for a percentage of their income.
As per Crisil’s report, Waaree Energies is India’s largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30.
On November 12, 2024, Waaree Energies share price closed 1.3% higher at ₹2,859.70 on NSE.
The company’s shares were listed on NSE on October 28, with an initial price of ₹2,500, reflecting a 66.3% premium over the issue price of ₹1,503 per share.
Waaree Energies Ltd. is one of India’s leading solar PV module manufacturers and renewable energy solutions providers. Established in 1989, Waaree specialises in manufacturing high-efficiency solar modules, with a production capacity among the highest in India. The company offers a range of products and services, including solar modules, EPC (Engineering, Procurement, and Construction) services, rooftop solutions, and independent power projects.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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