Waaree Energies arm to invest USD 30 mn in United Solar

New Delhi, Dec 19 (PTI) Homegrown Waaree Energies on Friday said it has signed an agreement to invest USD 30 million (about Rs 25 crore) in United Solar Holding Inc.

In a statement, the company said it signed the agreement through its US-based arm Waaree Solar Americas Inc.

Waaree Solar Americas Inc signed a binding term sheet to invest USD 30 million in United Solar through Series B preferred shares, alongside a long-term polysilicon offtake agreement to support Waaree's global solar manufacturing operations, and in particular, the US operations.

The transaction is expected to close on or around January 31, 2026, subject to the satisfaction of customary closing conditions.

In the US, Waaree Solar Americas has an operational 1.6 GW module manufacturing facility in Texas, which is being expanded to 3.2 GW. PTI ABI TRB TRB