Indian solar manufacturer Waaree will expand its ingot, wafer, cell and module production capacity by 6GW following a second round equity funding raise of around INR10 billion (US$121 million).
Indian module manufacturer Waaree Energies has struck a multi-year supply agreement with CubicPV, a merger between US-based wafer producer 1366 Technologies and Hunt Perovskite Technologies (HPT), under which Waaree will receive 1GW of silicon cells per year from CubicPV’s Indian factory.
Three Indian manufacturers are said to be eyeing up investments in their solar manufacturing capacity as efforts to take advantage of protective measures and financial supports ramp up.