Waaree Energies' Continued Commitment to U.S. Manufacturing and Regulatory Compliance

The United States is a key market and manufacturing base for Waaree Energies Limited, as part of our global expansion strategy. Through our subsidiary, Waaree Solar Americas Inc., we currently operate a 1.6 GW solar module manufacturing facility in Texas, with expansion underway to 3.2 GW. Our recent acquisition of U.S.-based manufacturing assets from Meyer Burger further underscores our long-term commitment to the American solar sector and U.S. production.

As a responsible and compliant corporate citizen, Waaree has consistently cooperated with U.S. authorities and remains fully committed to complying with all applicable laws and trade regulations.

We are aware of a recently initiated inquiry by U.S. Customs and Border Protection (CBP) regarding whether certain entries made by Waaree are covered by antidumping and countervailing duty measures, and we are fully cooperating with this process. At this time, we do not expect the investigation will result in any additional duty, and we are actively working with CBP to ensure full transparency and appropriate corrective action.

We remain confident in our compliance posture and appreciate the opportunity to clarify the facts. Waaree Energies will continue to operate with integrity, and we reaffirm our strong commitment to the U.S. market - both as a clean energy partner and as a growing domestic manufacturer.

Shares of Waaree Energies Limited was last trading in BSE at Rs. 3327.90 as compared to the previous close of Rs. 3277.85. The total number of shares traded during the day was 71240 in over 6855 trades.

The stock hit an intraday high of Rs. 3344.00 and intraday low of 3196.00. The net turnover during the day was Rs. 232451997.00.

Source : Equity Bulls

Keywords

WaareeEnergies INE377N01017 ElectricalEquipment USA ManufacturingBase Expansion