According to a report by CNBC TV-18, the department has launched antidumping and countervailing duty investigations into crystalline silicon photovoltaic cells, whether assembled into modules or not, originating from India, Indonesia, and Laos.
These probes aim to determine whether these countries have been exporting solar cells to the US at unfairly low prices or with government subsidies.
According to the Commerce Department’s findings so far, Indian solar cells are being shipped to the US at a dumping margin of 123%, with an additional subsidy rate of 2%.
This development could have notable implications for Indian exporters to the US. The department is expected to release its preliminary conclusions on the matter by September 2, which could set the stage for potential tariffs or other trade measures.
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For Waaree Energies, the timing of the probe is particularly critical. As of the June quarter, the company had an order book of 25 GW worth Rs 49,000 crore, with exports accounting for a substantial 41.3% of the total. Any adverse ruling from the US could impact a considerable portion of its international business.On the other hand, Premier Energies appears less vulnerable to the development, as the company’s focus remains largely on the domestic market, with minimal exposure to the US.On Tuesday, the shares of Waree Energies closed 0.9% lower at Rs 3,084.30 on the BSE, while those of Premier Energies closed 1.2% higher at Rs 1,015.55.Also read: Reliance AGM may offer Jio IPO timeline, retail outlook: Neeraj Dewan
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