Mumbai, Sept. 26 -- Waaree Energies Ltd's acquisition of a solar module assembly unit in a fire sale in the US could help it shore up its manufacturing capacity in that country and diversify its technology base even as it faces an investigation for allegedly evading anti-dumping duties, as well as allegations of violating patents.

Waaree Solar Americas Inc., a subsidiary of Waaree Energies, received approval last week to acquire a portion of the US assets of bankrupt Swiss firm Meyer Burger for $18.5 million (about Rs.164 crore). These include an assembly line to manufacture 1 GW of solar modules a year using heterojunction technology (HJT). The Swiss firm confirmed the transaction last Wednesday.

The acquisition was a bargain, especial...