This Indian Company Plans to Expand Manufacturing in the U.S.; Shares May Rise

Waaree Energies Limited, India’s largest solar PV module manufacturer, announced on Thursday, June 19, that it remains “largely unaffected” by President Donald Trump’s One Big Beautiful Bill. The company also revealed plans to double its manufacturing capacity in the United States.

Trump’s Bill to Boost the Energy Sector

In a statement to media, Waaree Energies clarified that Trump’s One Big Beautiful Bill primarily targets the consumer and retail sectors and has minimal impact on their operations. The company emphasised its continued focus on manufacturing high-quality solar modules for utility-scale and industrial projects.

Waaree Energies' CEO noted that a key positive is the retention of major provisions in the proposed bill, particularly the manufacturing tax credit under Section 45X, which is expected to continue driving innovation and growth in the clean energy sector.

For context, the objective of Trump's One Big Beautiful Bill is to provide incentives for the American manufacturing sector—boosting domestic production, generating employment, and supporting economic growth. The bill includes an advanced manufacturing tax credit, which will remain in place until 2029.

Strong Order Book in the U.S.

Waaree Solar Americas, a subsidiary of Waaree Energies in the U.S., has recently secured several major contracts. These include a 586 MW module supply agreement and a 599 MW solar module supply order from a U.S.-based company. With these deals, the company’s total order book has surpassed 1.2 gigawatts in the first quarter of FY 2025–26.

To meet this rising demand, Waaree Energies plans to double the capacity of its manufacturing facility in Brookshire, Texas, to 3.2 gigawatts by the end of 2025.

Waaree Energies Shares

Shares of Waaree Energies fell by 1.1 per cent on Thursday, closing at Rs 2,670. The stock has declined by up to 10% over the past month, but analysts believe the company’s expansion in the U.S. could lead to a rebound in investor confidence.