A US investigation into potential solar tariff evasion will not impact Waaree Energies' investment plans, including the expansion of its Texas facility and exploration of setting up a solar cell manufacturing capability in the high-growth, strategic US market, the company said Sunday. Waaree is one of the largest vertically integrated companies in the manufacturing of solar modules, which convert sun rays into electricity. It has an operational capacity of 13.3 GW in India. It commenced operations at its US solar module manufacturing plant in Houston, Texas, in January this year with an initial installed capacity of 1.6 GW. The Texas facility is being scaled to 3.2GW by FY27. US customs officials last week launched an investigation into whether Waaree bypassed tariffs on Chinese-made solar cells and panels by falsely labelling them as manufactured in India. "The investigation has no impact on our investment plans. The Texas plant expansion from 1.6 GW to 3.2 GW is already underway,
There has been a continuous decline in solar power tariffs since the start of the current financial year
India, the world's third-biggest greenhouse gas emitter, has set a target of raising its renewable energy to 175 GW by 2022
Legally binding power purchase agreements with no revision clauses cannot be renegotiated
Winning bid lower than Rewa; Rs 3.15 per unit to be levellised tariff for 25 years
Odisha is ready to take on Madhya Pradesh, Andhra Pradesh in terms of solar tariff
Energy rates could fall below coal-based power
Tariff can be lowered further depending on the bids in the auction