Waaree Energies Acquires Stake in USH

Waaree Energies has made a strategic move by acquiring 5.37 million Series B Preferred Shares of United Solar Holding Inc (USH) for $30 million. This investment will give Waaree Energies a stake in USH's advanced 100ktpa polysilicon plant in Oman, along with likely anchor customer status.

About the Investment

The polysilicon plant has the capacity to produce 40GWpa of modules, which will help meet a significant portion of Waaree Energies' 10GW Nagpur wafer-ingot requirement. The plant's location in the Sohar Freezone, with free trade agreements with the US, India, and other countries, is expected to reduce the cost curve and meet US and EU's traceability requirements.

Benefits for Waaree Energies

This investment is a significant step for Waaree Energies, as it will support the company's rapidly expanding US and global footprint. The plant is expected to be near commissioning, with a ramp-up to full capacity likely to happen within a year.

Analyst's View

Analysts view this investment positively, citing the strategic benefits it will bring to Waaree Energies. The company has also commissioned 5.1GW of module capacity in Gujarat in Q3FY26, further expanding its capabilities.

Recommendation

Based on this development, analysts retain their estimates and reiterate a BUY recommendation with a target price of Rs 4,260.

Remember, this is a perspective, not a prediction. It's essential to do your own research and consider multiple viewpoints before making any investment decisions.