India’s Waaree to invest $1 billion in Texas solar panel factory
In India, Reuters reported that Indian solar panel maker Waaree Energies said it would invest up to $1 billion to build a factory in Texas. Waaree said that by 2027 its planned Brookshire, Texas facility will be one of the largest solar factories in the U.S., with an annual capacity of 3 gigawatts (GW) of panels when it opens in late 2024, then expanding to 5 GW. The factory will create more than 1,500 jobs, according to the report. The company aims to add a solar cell facility by 2025. Waaree’s plans are supported by a long-term supply agreement with SB Energy, a clean energy developer backed by Japan’s Softbank Group, the report added. “By setting up the new facility in the Houston area, Waaree brings critical technologies that will boost American solar production, reducing reliance on overseas sources while supporting strong U.S. jobs,” Sunil Rathi, interim CEO of Waaree Solar Americas said in a statement.
