Sunshine for Silver: Houston Solar Investment Electrifies Market
7 GW Solar = 3,500,000 ounces of Silver
India's leading solar panel manufacturer, Waaree Energies, has exciting plans for the renewable energy landscape in the United States. The company has officially announced the establishment of a state-of-the-art 3-GW solar panel assembly plant in Brookshire, Texas, solidifying its commitment to sustainable energy solutions.
With a substantial investment exceeding $1 billion, Waaree Energies aims to develop the site into a cutting-edge facility with a capacity that will eventually scale up to 5 GW of annual solar panel manufacturing by 2027.
The company also has plans to integrate silicon cell manufacturing into the site, with a target completion date of 2025.
Waaree Energies has already secured a significant partnership with SB Energy Global. This leading utility-scale contractor has become a long-term buyer of Waaree's American-made solar panels.
Under a multi-gigawatt contract, SB Energy will procure Waaree modules over the next five years, further cementing the success of this ambitious venture.
Anticipated to be operational by the fourth quarter of 2024, the 3-GW panel assembly factory is poised to create over 1,500 jobs at total capacity.
The company has leased a state-of-the-art 546,000-square-foot facility outside Houston, underscoring its commitment to fostering clean energy and supporting local economies.
Sunil Rathi, interim CEO and Waaree Solar Americas board member, emphasized the significance of sourcing most major components domestically, facilitated partly by the Inflation Reduction Act.
Rathi highlighted that this strategic move promotes American solar production and reduces dependence on overseas sources, contributing to the growth of US jobs. He stated, "We are committed to the US and its growing demand for clean energy."
Waaree Energies, with a track record of supplying over 4 GW of modules to US customers, operates 12 GW of manufacturing capacity in India across four factories. The company is gradually transitioning to TOPCon designs and plans to have 4 GW of TOPCon cell manufacturing capacity in India next year. Initially, the Texas panel factory will be supplied with Waaree's Indian-made cells.
This groundbreaking initiative marks Waaree's first facility outside of India and positions the company at the forefront of advancing solar technology in the United States. Notably, the Texas facility is strategically located just one mile from Elin Energy's under-construction 2-GW panel factory, with Waaree's building being twice the size—an impressive testament to the scale and impact of this solar powerhouse's entry into the American market.
Solar Power Assembly Plant in Brookshire Texas.
2 massive manufacturing facilities within one mile of each other
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Where will the silver come from? Or will they be using some sort of alternative? You mentioned something about manufacturing silicon chips in the article, what’s the connection? Have they secured their silver, or will this provide a future source of supply-squeezing demand that will help reward today’s stackers in a couple of years?