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Waaree Expands US Solar Capacity with $18.5M Buy Amid Legal Scrutiny

Waaree Energies Ltd has acquired part of the bankrupt Swiss firm Meyer Burger’s US assets for $18.5 million, securing a 1GW solar module assembly line using heterojunction technology (HJT). This bargain deal, compared to the $80–85 million it previously invested in its 1.6GW Texas facility, strengthens Waaree’s foothold in the US, a market that accounts for more than half of its Rs49,000 crore order book. The company is also doubling its Texas capacity to 3.2GW by year-end.

However, Waaree faces multiple challenges. US solar major First Solar has accused it of patent violations related to its TOPCon solar cells, demanding the company cease production or license the technology. Additionally, US Customs and Border Protection has launched a formal probe into whether Waaree evaded anti-dumping and countervailing duties by misclassifying imports from Southeast Asia as India-made. Waaree confirmed its cooperation with the investigation.

Despite these hurdles, Waaree’s expansion into HJT diversifies its technology base, providing a hedge against legal risks and access to Meyer Burger’s client base. With India emerging as a key exporter to the US after tariffs on Chinese and Southeast Asian panels, Waaree’s strategy reflects both opportunity and uncertainty in the global solar market.