Waaree, a manufacturer of Indian solar modules, is confident in US demand despite Trump's policy concerns. CEO Waaree

Amit Paithankar, CEO of Waaree Energies, said that the company is confident about U.S. demand, and it is well-positioned to handle possible import tariffs under Donald Trump thanks to its Texas operations.

Last week, Trump ordered that spending on climate and infrastructure laws, tax credits for clean industries and new offshore wind leasing be halted.

In the last nine months, nearly one fifth of Waaree’s revenue came from the United States. This is a major market for Indian manufacturers of solar modules. Waaree stock has been impacted by concerns about Trump's clean-energy stance. It is down 36% from its peak shortly after it was listed in October.

Waaree shares rose by 10% on Friday after the company reported a three-fold increase in its third quarter profit.

In the past month, we've been in contact with all our major customers. In an interview, Paithankar said that our order book is still strong.

He said, "We'll closely monitor the tariff regime when it is implemented."

Paithankar said Waaree would decide based on new tariffs if it will manufacture more in India, or increase capacity at its recently commissioned 1.6 Gigawatts (GW), module manufacturing plant in Brookshire in Texas to up to 3 GW.

Paithankar stated that Waaree is interested in exploring new markets outside the U.S. including the Middle East and Africa, as well as Australia.

Waaree India expects to have the majority of its 5.4GW solar cell production capacity in Gujarat, located in western India, operational by March or April of this year. In India, the company has a total of 13.3 GW module production capacity. Reporting by Sethuraman N.R.; Editing by Eileen Soreng

(source: Reuters)