Waaree Solar Americas invests in polysilicon company

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.