Waaree Energies announces US polysilicon investment

Waaree Energies Limited has disclosed two corporate developments to Indian stock exchanges on 19 December 2025. The company reported an overseas investment through its American subsidiary and the incorporation of a new step-down subsidiary.

In the first disclosure, the company informed that its wholly owned subsidiary, Waaree Solar Americas Inc. WSA has entered into a Binding Term Sheet with United Solar Holding Inc. USH. The agreement was executed on 18 December 2025 and received by the parent company on 19 December 2025.

Under the Term Sheet, WSA has committed to subscribing to approximately 5,368,551 Series B preferred shares of USH for a total consideration of approximately USD 30,000,000. The transaction is subject to customary conditions precedent. The indicative completion date is 31 January 2026 or a later date agreed by both parties.

USH is a Cayman Islands-incorporated company with operations in Oman. It is engaged in the production of high-purity polysilicon used in solar photovoltaic module manufacturing. The company was incorporated in May 2023 and has reported nil turnover for the last three years.

Waaree Energies stated that the investment is aimed at strengthening the group’s long-term and traceable polysilicon supply chain. The company said the move is intended to support its expanding manufacturing presence in the United States of America and other global markets. USH has been confirmed as not being a related party, and no promoter or group entity of Waaree Energies has any interest in it. The acquisition will be funded entirely through cash, and no regulatory or government approvals are required.

In a separate disclosure, Waaree Energies reported the incorporation of a new step-down subsidiary. Its wholly owned subsidiary, Waaree Forever Energies Private Limited WFEPL has incorporated Hydro Bloom Energy Private Limited as a wholly owned subsidiary.

Hydro Bloom Energy Private Limited was incorporated on 18 December 2025, with the Certificate of Incorporation received on 19 December 2025. The company is registered with the Registrar of Companies, Mumbai. It has been set up to facilitate and hold specific power projects under the Independent Power Producer IPP framework. The newly incorporated entity has not commenced operations and has no turnover. WFEPL holds 100 per cent of its share capital.

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