Markets & Policy

Waaree Solar Americas to invest about $30 million in polysilicon supplier

Waaree Energies says its US unit has agreed to invest about $30 million in United Solar Holding to secure a traceable polysilicon supply for its expanding North American manufacturing base.
Uma Gupta
By
Uma Gupta
Image: United Solar Polysilicon (FZC) SPC

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.

Written by

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: [email protected].

Comments