Recently, Waaree Solar Americas, a subsidiary of India's leading photovoltaic company Waaree Energies, plans to invest $30 million (about 210 million yuan) to acquire polysilicon manufacturers. United Solar (United Solar) has about 5.3686 million B-round shares, the transaction is expected to be completed by January 31, 2026, and a long-term polysilicon purchase agreement has been signed simultaneously to ensure the supply of raw materials. United
Solar was founded in May 2023 by Zhang Longgen, former chief financial officer of Jingke Energy and former vice chairman of Daqo Energy. The company is building a polysilicon plant with an annual output of 100,000 tons in Sohar Free Zone, Oman, which will be started on March 11, 2024 and completed in 2026. After full production, the annual output can meet the production demand of 40 GW photovoltaic modules . In addition to the US $30 million investment, it also received more than 15.9 billion yuan of strategic investment.
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