Borosil Renewables, one of India’s leading solar glass manufacturers, is set to ramp up its production capabilities significantly. The company announced plans to invest Rs 900 crore to expand its current capacity of 6.5 GW to 10 GW by mid-2026. This investment, aimed at bolstering solar energy production in India, will be primarily focused on the Bharuch plant in Gujarat, which is currently home to Borosil’s solar glass manufacturing units.
The expansion plan follows a series of strategic decisions, including securing both equity raises and bank financing. The funds will be allocated to upgrading existing infrastructure and procuring specialised equipment necessary for the enhanced production process. The manufacturing process will involve custom-built equipment, which typically has a lead time of six to nine months. Although construction and groundwork are already underway, full-scale production is expected to begin by mid-2026. Borosil’s decision to expand its solar glass capacity reflects the company’s commitment to meeting the growing demand for solar panels in India, which is one of the world’s largest solar energy markets. The company’s production in Gujarat will support the broader renewable energy initiatives in India, aligning with the government’s push to increase clean energy generation. The global solar glass market has been experiencing immense competition, particularly from Chinese manufacturers who dominate the industry, aided by substantial government subsidies. However, Borosil has positioned itself as the largest non-Chinese solar glass producer worldwide, focusing on both Indian and international markets. The company operates a 2.5 GW production facility in Germany, which will combine with the Indian expansion, bringing Borosil’s total global solar glass production capacity to an estimated 12.5 GW by 2026.
While the year 2024 has been challenging for the solar industry, with excessive dumping from China leading to price pressures, Borosil is optimistic about the future. The company faced difficulties in terms of profitability, as Chinese manufacturers significantly underpriced their products in global markets. In response, the Indian government introduced a minimum import price for solar glass from China and Vietnam, helping to stabilise market conditions and allowing Indian manufacturers like Borosil to compete more effectively. The company’s Chief Executive Officer noted that with the price normalisation, Borosil expects to see a strong recovery in profitability, making the expansion a prudent move. The demand for solar glass has been steadily increasing as India ramps up its renewable energy capacity to meet both domestic energy needs and international sustainability targets. Despite the challenges posed by global competition, Borosil remains focused on its long-term growth strategy. The solar glass sector is poised to benefit from India’s ambitious renewable energy goals, with significant investments directed towards infrastructure development, clean energy projects, and the scaling of production capacities across the country.
As India continues to prioritise sustainable energy solutions, Borosil’s expansion plan positions the company as a major player in the country’s renewable energy landscape. With an eye on the future, Borosil’s commitment to boosting its solar glass manufacturing capacity is expected to play a vital role in the country’s transition towards a greener, more sustainable energy sector. The company’s leadership remains confident that the government’s recent policy changes, coupled with improved pricing structures, will create a favourable environment for continued investment and growth. While the initial months of the financial year were difficult, the firm is optimistic that the improved market conditions will drive strong growth in the coming quarters.
