NEW DELHI, Feb 25: Vikram Solar and Waaree Energies do not see any material adverse or limited impact from the US decision of imposing countervailing duties on certain solar goods from India.
Gyanesh Chaudhary, CMD, Vikram Solar said, “The recent US preliminary AD/CVD duties apply specifically to Indian-origin cells. Our US order strategy was not structured around sourcing Indian cells; we already operate with a diversified supply chain for that market, including sourcing from geographies with lower tariff exposure. As a result, the direct financial impact on us is limited.”
With the Cabinet’s decision to ease evacuation infrastructure, the company expects installation momentum to accelerate further, he noted.
This strength is reflected in recent wins such as a 378.75 MW module order from Indian Oil—NTPC Green Energy for a large-scale project in Gujarat, he pointed out.
“At this stage, the company does not anticipate any material adverse impact on its ability to service its US order book”, said Abhishek Pareek, Group Head Finance, Waaree Energies.
He said that this comment is with reference to the recent media announcement by the US Department of Commerce regarding the imposition of preliminary countervailing duties of 126 per cent on certain solar imports from India.
The company said that during the first nine months of FY26, it has continued to ramp up its deliveries for shipments to the US despite the earlier imposition of a 50 per cent duty on imports from India.
The company is in the process of further expanding its US manufacturing capacity to approximately 4.2 GW by the end of the current financial year, subject to operational ramp-up timelines and other customary factors. (PTI)
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