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Waaree Energies, an India-based solar module manufacturer, may consider building a solar cell manufacturing facility in the US after completing its local module expansion. Chairman and managing director Hitesh Doshi said Waaree must first raise its US module capacity from 1.6 GW to 4.5 GW over the next six months. The US solar market has annual demand of 50 GW to 60 GW and remains 80% to 85% dependent on imports, while Waaree’s current market share there is still small. Waaree Solar Americas acquired Meyer Burger’s US assets last September for $18.5 million, including a 1 GW HJT module assembly line. In India, Waaree has a 15% to 18% market share and is expanding across battery storage, electrolysers, inverters, transformers, solar glass, smart meters, and transmission and distribution. Waaree has 28 GW of global module capacity, with 5 GW operational from a 15 GW expansion and another 10 GW expected this fiscal year.
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