Indian solar manufacturer Waaree has completed the shipment of 850MW of monocrystalline passivated emitter and rear cell (PERC) modules to Spanish developer Acciona Energia for deployment across four solar projects in the United States. The projects, located in Texas, Illinois, and Ohio, include Acciona's largest PV endeavor to date, the 375MW Red Tailed Hawk solar site in Texas, along with the 56MW Fort Bend project, 129MW High Point project, and the 288MW Union project.
In addition to the successful delivery, Waaree and Acciona have entered into a significant three-year supply agreement, starting from 2024. As part of this arrangement, Waaree will supply 1.5GW of n-type tunnel oxide passivated contact (TOPCon) modules to Acciona. The shift towards n-type modules, particularly TOPCon, is a prevailing trend in the PV manufacturing industry, driven by their higher efficiency and various operational and manufacturing advantages.
Waaree highlighted its substantial contribution to the U.S. solar market, stating that it has supplied over 4GW of modules to the country so far in 2023. This comes at a time when the solar sector in the U.S. is navigating supply chain challenges, and Waaree aims to reinforce its reputation for delivering reliable module supplies while upholding rigorous product quality standards.
Indian energy analyst JMK Research recently projected a peak in Indian module exports to the U.S. and Europe in 2025, with nearly US$1 billion worth of PV modules expected to be shipped to the U.S. this year. This surge is attributed, in part, to trade barriers imposed by the U.S. on supplies from Southeast Asia and China, creating procurement challenges in recent years under anti-dumping and countervailing duty (AD/CVD) policies and the Uyghur Forced Labor Prevention Act (UFLPA).
Looking ahead, JMK anticipates a decline in Indian shipments from 2026, coinciding with the anticipated fruition of growing domestic manufacturing capacities in the U.S. and Europe.
Sunil Rathi, interim CEO & board member at Waaree Solar Americas, commented, “At a time when the U.S. solar sector has faced supply chain challenges, Waaree has showcased its ability to deliver reliable module supplies while demonstrating a commitment toward maintaining product quality standards.”
In the broader U.S. solar landscape, the third quarter of 2023 saw the installation of 3.1GW of solar PV capacity, constituting over half of the total renewable energy capacity additions during the period. Texas, home to two of Acciona's projects, has emerged as a prominent player in U.S. solar deployments, contending with California for the top position in state solar additions. In 2022, Texas contributed 2.5GW of solar PV capacity, accounting for almost a quarter of the total annual additions.
