Waaree Energies announced that its U.S. manufacturing arm, Waaree Solar Americas, has entered into a binding term sheet with United Solar Holding Inc. (USH), a Cayman Islands-based company, to invest around $30 million through the subscription of Series B preferred shares.
Under the agreement, Waaree Solar Americas will subscribe to about 5.37 million Series B preferred shares of United Solar Holding Inc. The proposed transaction is expected to be completed by Jan. 31, 2026.
The investment is a strategic move by Waaree to secure a long-term, fully traceable polysilicon supply chain to support its rapidly expanding manufacturing footprint in the U.S. and globally.
United Solar Holding Inc., incorporated in May 2023, is a producer of high-purity polysilicon—an essential raw material for the solar industry. The company operates an advanced polysilicon manufacturing facility in Oman and has a presence in both the Cayman Islands and Oman.
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: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.