Borosil Renewables

Borosil Renewables' board approved a revised expansion plan to increase solar glass production capacity by 600 tonnes per day at its Bharuch, Gujarat facility, at an estimated cost of Rs 950 crore.

Borosil Renewables will invest Rs 1,500 crore over two years to expand its solar panel glass capacity to 1,550 TPD by FY24 and 2,100 TPD by FY25, enabling supply of 15 GW of solar modules. Domestic expansion will be at its Baruch facility in Gujarat. The company also plans to invest in its German plant to increase capacity to 500 TPD by 2023.

Borosil Renewables has approved the acquisition of 100% stakes in GMB Glasmanufaktur Brandenburg GmbH and Interfloat Corporation, both solar glass manufacturers. The deal includes cash and performance-based earnouts.

Borosil Renewables plans to expand its solar glass capacity from 450 tons per day to 950 tons per day by adding a third line of 500 tons per day at its Bharuch, Gujarat plant.