India’s Waaree to invest $200m into US batteries

The Waaree Solar Americas Inc. arm of Indian conglomerate Waaree Group has announced plans to invest $200 million into US battery energy storage systems (BESS).

This follows Waaree Energies’ commitment of up to $1 billion to the US solar ecosystem, bringing Waaree’s total planned investment in the USA to $1.2 billion by 2028.

The company said the incremental investment of $200 million will focus specifically on battery energy storage, enhancing its technological capabilities and driving the mass-scale adoption of cost-efficient energy solutions across the USA.

This expansion is expected to create an additional 300 to 500 jobs over the next few years, adding to the 1,500 jobs already announced.

“Our decision to invest was primarily driven by the significant market potential in the energy sector,” said Amit Paithankar, wholetime director and CEO, Waaree Energies. “The US boasts one of the largest and most dynamic energy markets in the world, offering significant opportunities for growth and innovation. Additionally, the US is at the forefront of technological advancements, particularly in AI [artificial intelligence] and data centers, which require substantial and reliable power sources. Our investment aligns with these growing demands. Furthermore, solar energy is currently the cheapest source of power and the fastest to commission, making it an ideal choice for our expansion efforts.”

Waaree Solar Americas Inc. recently announced the expansion of its solar module manufacturing facility in Brookshire, Texas. The facility currently operates at 1.6 GW capacity and will be expanded to 3.2 GW.

From pv magazine India.