Waaree Energies said its US manufacturing subsidiary, Waaree Solar Americas Inc., has entered into a share subscription agreement with United Solar Holdings Inc., a Cayman Islands-based polysilicon producer, to subscribe to around 5.37 million Series B preferred shares for about $30 million.
The investment is a strategic move to secure a long-term, fully traceable polysilicon supply chain to support Waaree’s expanding manufacturing operations in the United States and other global markets.
United Solar Holding, incorporated in May 2023, produces high-purity polysilicon, a core raw material for solar cells and modules. The company operates a polysilicon manufacturing facility in Oman and maintains corporate operations in 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.