Waaree Energies shares jump 9% on plans to double US capacity, FTSE inflows

Shares of Waaree Energies Ltd. have surged 9% on Friday, June 20, after the company clarified to CNBC-TV18 on their stance on US President Donald Trump’s One Big Beautiful Bill. The stock is also primed for inflows ahead of its inclusion in the FTSE indices.

On Thursday June 19, the solar module manufacturer said that it remains ‘largely insulated’ from US President Donald Trump’s One Big Beautiful Bill, which disincentivises solar and wind energy installations. It also plans on doubling its capacity in the US.

In a statement to CNBC-TV18, Waaree Energies highlighted that the proposals made in the One Big Beautiful Bill pertain mainly to the retail and consumer segments. The company said in its core focus is on manufacturing high quality solar modules for utility and industrial-scale projects.
“Importantly, the proposed bill maintains key provisions intact and ensures that the manufacturing tax credit (Section 45X) remains unchanged, continuing to support growth and innovation in the sector,” Amit Paithankar, the whole-time director and CEO of Waaree Energies said in the statement.
Waaree Solar Americas, the US-based subsidiary of Waaree Energies has recently won multiple large orders, including a 586 MW module supply agreement and a 599 MW order from leading independent power producers in the US.

“These orders, underscore our strong commercial momentum and the robust demand for our U.S.-manufactured modules,” the statement said further.

Waaree plans to double its capacity at its manufacturing facility in Brookshire, Texas, to 3.2 GW by the end of 2025 to cater to this growing demand.

The company said that it continues to invest in US manufacturing and is committed to meeting all compliance requirements, including those of the Foreign Entity of Concern (FEOC) regulations. “FEOC regulations actually helps Indian manufacturers and Waaree to be intrinsic part of solar value chain for Americas,” Paithankar said, adding that they have an order book worth 25 GW through 2027.

Waaree is also likely to receive inflows of up to $47 million as part of the adjustments related to the FTSE indices, according to Nuvama Alternative & Quantitative Research.

Shares of Waaree Energies are trading 9% higher on Friday at ₹2,908.6. Shares of its peer, Premier Energies are also trading with gains of 6%.