From pv magazine India
Waaree Energies said its US manufacturing subsidiary, Waaree Solar Americas, has signed a binding term sheet to invest about $30 million in United Solar Holding Inc., a Cayman Islands-based polysilicon producer.
The investment will be made through the subscription of about 5.37 million Series B preferred shares in United Solar Holding, with the transaction expected to close by Jan. 31, 2026, the company said.
Waaree described the deal as a strategic step to secure a long-term, fully traceable polysilicon supply chain to support its expanding manufacturing operations in the United States and other global markets.
United Solar Holding, incorporated in May 2023, produces high-purity polysilicon, a core raw material for solar cells and modules. The company operates a polysilicon manufacturing facility in Oman and maintains corporate operations in the Cayman Islands and Oman, according to Waaree.
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