Waaree Energies' US subsidiary has secured a 236.22 MW solar module order for a Kentucky project, with deliveries scheduled for fiscal year 2028. This contract highlights the company's expansion into the US market using its Texas manufacturing unit. The announcement follows a recent clarification from the US Customs and Border Protection regarding historical import investigations, which confirmed that the company's operations remain unaffected.
What Happened
Waaree Energies Limited, through its American subsidiary Waaree Solar Americas, has secured a new contract to supply 236.22 MW of solar modules. These modules are destined for a utility-scale solar project located in Flemingsburg, Kentucky. The company will supply its N-Type G12R photovoltaic modules in 615 Wp and 620 Wp variants, which are high-efficiency components used in large-scale energy infrastructure. Production for this order will take place at Waaree's manufacturing facility in Brookshire, Texas. Deliveries are scheduled to occur during the first and second quarters of fiscal year 2028.
The US Market Context
This contract is part of the company's broader effort to establish a stronger footprint in the United States. Demand for domestically manufactured solar equipment has been rising in the US, driven by utility-scale solar developers who prioritize resilient and local supply chains. By manufacturing in Texas, the company aims to meet these requirements directly. The management has previously stated that the US is a key market for its long-term growth, and this order serves as a validation of its local manufacturing strategy.
Regulatory Clarity on Customs
This order announcement arrives shortly after a significant regulatory update regarding the company's operations. On June 28, 2026, Waaree provided a clarification concerning an investigation by the US Customs and Border Protection (CBP). The investigation, which included on-site checks at the company's Indian manufacturing sites, examined historical import entries.
The company stated that the investigation confirmed it did not export solar modules containing Chinese-origin cells, contrary to concerns sometimes raised about supply chain compliance in the industry. Waaree reported that the CBP drew no negative conclusions from the process and rejected a petition that sought an evasion finding against the company’s imports. This clarification is relevant for investors as it helps clear uncertainty regarding the company's ability to maintain its presence in the US market.
Business and Order Book
The Waaree Group maintains a total order book of approximately ₹53,000 crore. This figure includes a mix of both domestic and international contracts, reflecting high demand for solar modules. While the specific financial value of the new Kentucky order was not disclosed, it adds to the group's pipeline of future revenue.
What Investors Should Track
Investors may look for further updates on the execution of this FY28 order as the timeline approaches. Important monitorables include the company's ability to maintain its profit margins while scaling up its Texas operations, the continued demand for domestic solar manufacturing in the US, and any further updates regarding its compliance status with international trade regulations. Tracking how the company balances its global order book against potential changes in trade policies will be relevant for assessing future performance.