Borosil Renewables Limited, India’s largest and oldest manufacturer of solar glass, has announced a major 50% expansion in its manufacturing capacity. This move, aligning with the vision of Atmanirbhar Bharat, will see the company’s production capacity increase from 1,000 tons per day to 1,500 tons per day.
The decision to resume the expansion plans, previously on hold, was approved by the Board of Directors on December 18, 2024. This follows a notification from the Ministry of Finance on December 4, 2024, introducing a “Reference Price” for imported solar glass to curb cheap imports from China and Vietnam. The reference price, set at US$ 673-677 (approximately INR 143 per mm/square meter at the container yard), will act as a minimum threshold for import prices.
Addressing the Crisis of Dumping
The domestic solar glass industry has faced immense challenges due to aggressive dumping by Chinese-owned companies, leading to skyrocketing import volumes and plummeting prices. The introduction of the reference price aims to protect the sector, enabling Borosil Renewables to return to better profit margins and support its expansion initiatives.
Strengthening India’s Solar Ecosystem
The expansion of Borosil Renewables is expected to significantly boost the domestic production of solar glass, a critical component of photovoltaic (PV) solar panels. This move will enhance the supply chain for domestic PV module manufacturers, reduce reliance on imports, and save foreign exchange while fostering job creation within India.
Sustainable and Self-Reliant Growth
With most raw materials, skilled manpower, and technology already available in India, the expansion is poised to make the solar sector more robust and self-reliant. The increased production will also reduce dependency on foreign suppliers, ensuring a reliable supply of solar glass for India’s growing renewable energy sector.
This expansion reinforces Borosil Renewables’ position as a leader in the Indian solar glass industry, paving the way for sustainable and self-reliant growth in the renewable energy sector.