US Customs Investigates Waaree Energies for Solar Tariff Evasion

United States Customs and Border Protection (CBP) has launched a formal investigation into Waaree Energies, an Indian solar module manufacturer, following allegations that the company evaded tariffs on Chinese-made solar cells and panels. The probe was triggered by a complaint from the American Alliance for Solar Manufacturing Trade Committee, which claimed Waaree mislabeled Chinese imports as Indian products to bypass antidumping and countervailing duties, specifically those under Section 201.

US authorities cited a reasonable suspicion that the company failed to declare imports from China and other Asian countries to maintain low market prices. To protect potential revenues during the inquiry, customs officials are requiring Waaree to provide cash deposits. Following the announcement on September 26, shares of Waaree Energies fell between 4.5% and 8% on Mumbai exchanges.

Waaree Energies has stated it is cooperating with the investigation and maintains that internal assessments show no material duty exposure. Despite the legal scrutiny, the company announced on September 28 that it will proceed with its U.S. investment plans. This includes expanding its Houston, Texas, manufacturing plant from 1.6 GW to 3.2 GW by FY27 and integrating assets recently acquired from Meyer Burger to reduce import dependence.