Waaree Energies Ltd., which is coming out with its initial public offering next week, plans to increase its global footprint into the European Union and the Middle East from the US at present.

The integrated renewable energy manufacturer plans to go beyond the US, where it is setting up a 3-gigawatt solar module manufacturing plant.

“We expect 1.6-GW module capacity to be operational before March 2025,” Chief Executive Officer Amit Paithankar told NDTV Profit. “The utility has been sized for 3 GW and depending on the way the market evolves, potentially it can be taken up to 5 GW.”

The raw materials for the US plant in the form of cells can be imported from India, according to Paithankar.

The company plans to leverage the global demand through its integrated module manufacturing capacity in India. “We are looking at international geographies as well, especially in the European Union and Middle East, given the kind of global demand for renewable energy. We have already opened an office in Dubai,” he said.