Key Points
(Reuters) Indias top solar panel maker Waaree Energies on Thursday said it would invest up to $1 billion to build a factory in Texas to take advantage of soaring U.S. demand for clean energy...
The announcement is the latest major corporate commitment to solar manufacturing since passage of U.S. President Joe Bidens landmark climate change law last year which offers subsidies and tax breaks for clean energy projects...
Indias solar manufacturing industry is growing rapidly and just beginning to use its know-how in the United States, with both countries looking to build a clean energy sector to compete with China...
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..
Most major components in Waarees solar modules will be made in the U.S., the company said.. Waarees move to manufacture in the U.S. comes after a venture backed by Indias Vikram Solar earlier this year said it would invest $1.5 billion in the U.S. solar supply chain...
