Mumbai / Texas, May 30, 2025 – Waaree Solar Americas Inc., the wholly owned U.S. subsidiary of Waaree Energies Limited, India’s largest solar PV module manufacturer, has announced the signing of a significant 586 MW solar module supply agreement with a leading U.S.-based independent power producer. Valued at USD 176 million (approx. INR 1500 crore), this landmark project represents a major milestone as Waaree continues to expand its strong presence in the US solar market.

The modules will be manufactured at Waaree’s state-of-the-art facility in Brookshire, Texas, and are scheduled for delivery during FY 2026–27 across four projects. These modules will leverage several domestically produced components, aligning with the Investment Tax Credit (ITC) guidelines for domestic content requirements and reinforcing the resilience and reliability of the U.S. clean energy supply chain amidst evolving trade and energy policies.

“This agreement reflects Waaree’s unwavering commitment to building a resilient, robust, and technologically advanced clean energy supply chain in the United States,” said Sunil Rathi, President, Waaree Solar Americas. “In a landscape marked by shifting trade dynamics and an increasing emphasis on domestic manufacturing, our Brookshire facility stands uniquely equipped to meet market demand with high-quality, U.S.-made modules. This milestone not only
underscores global confidence in Waaree’s quality and reliability but also bolsters America’s
energy transition, enhances job creation, and strengthens long-term energy security.”

He added, “Our collaboration reflects a mutual commitment to advancing America’s energy security objectives through a resilient domestic supply chain, supported by Waaree’s extensive manufacturing expertise developed over decades in India. We are proud to contribute to our
partner’s ambitious project pipeline with our high-performance solar modules.”

This partnership highlights Waaree’s strategic positioning as a highly dependable global PV module manufacturer with a dynamic and resilient supply chain strategically
positioned to mitigate trade risks and ensure supply continuity. As US energy demand continues to surge, driven notably by advancements in AI infrastructure and industrial growth, Waaree remains dedicated to supporting its clients and partners by delivering scalable, high-quality clean energy solutions.