Waaree Energies says 'no material adverse impact' on US order book amid 126% preliminary duties

Waaree Energies Ltd said it does not anticipate any “material adverse impact” on its ability to service its US order book, even as the Trump administration imposed steep preliminary duties on solar imports from India.

In a statement to Reuters, a company executive said, “We do not anticipate material adverse impact on our ability to service the U.S. order book.” The executive added that Waaree expects its US manufacturing capacity to “substantially support existing U.S. commitments.”

The company further said it is in the process of expanding its US manufacturing capacity to 4.2 GW by the end of the year, which it expects will help cushion the impact of the newly announced trade measures.


Also Read: Waaree, Premier Energies plunge up to 14% after US slaps 126% initial solar import duty

The clarification comes after the US Commerce Department imposed preliminary countervailing duties of 126% on solar imports from India, citing unfair manufacturing subsidies. The move triggered a sharp selloff in solar stocks on Wednesday.

Shares of Waaree Energies plunged as much as 14%, while Premier Energies hit its 10% lower circuit. Vikram Solar shares also fell more than 7% intraday on the BSE.

The US Commerce Department has also set initial duties ranging from 86% to 143% on imports from Indonesia and 81% for Laos, based on findings that exporters from these countries benefited from foreign subsidies that allowed them to undercut US solar manufacturers.

These duties are separate from former US President Donald Trump’s broader global tariff measures, which were struck down last week by the US Supreme Court. Subsequently, Trump announced new 10% tariffs, with a warning that they could be raised to 15%.

According to BloombergNEF, India, Indonesia and Laos accounted for 57% of solar module imports to the US in the first half of 2025. Developers had increasingly turned to these countries after Washington imposed steep duties on four Southeast Asian nations that previously dominated US solar imports.