Waaree Energies' US Arm Seals $30M Deal for Polysilicon Supply

• Waaree Solar Americas Inc (WSA) will acquire 53,68,551 series B preferred shares of United Solar Holding Inc (USH) for $30 million.
• USH, incorporated in May 2023, is a leading producer of high-purity polysilicon in Oman, crucial for the solar industry.
• The strategic investment aims to secure a long-term, traceable polysilicon supply for Waaree Group's expanding manufacturing footprint.
• The transaction is expected to be completed by January 31, 2026, subject to customary closing conditions.
• Waaree Energies Ltd shares fell 6.20% on the BSE on December 19 following the announcement.

Why It Matters: Waaree's US arm invests $30M in United Solar for critical polysilicon supply, boosting manufacturing.