Triveni Glass is the latest to venture into solar glass production after Asahi India Glass, Gold Plus Glass Industry, and Chiripal Group. It plans an 840tpd factory with an estimated investment of INR 1,000 crore.
Gujarat-based Borosil Renewables has started trial production from its third solar glass furnace, raising its capacity in India to 1,000 tons per day (tpd). Its cumulative solar glass capacity has reached 1,300 tpd, which includes 300 tpd in Germany added through the acquisition of Interfloat Group.
Borosil Renewables had signed a binding offer for 100% equity in Interfloat Group, Europe’s largest solar glass manufacturer, in April this year.
Borosil Renewables, an Indian solar glass manufacturer, has recorded net sales of around INR 644 crore ($83 million) for fiscal 2021-22. It operated almost at full capacity throughout the year and sold out of everything it produced.
With this acquisition, the Indian manufacturer’s solar glass output will grow to 750 tonnes per day (TPD) from the current 450 TPD.
The solar panel glass manufacturer expects strong growth in demand for its products at home and abroad with a significant rise expected in the production of PV modules in the USA and Europe.
Auto glass producer Asahi India Glass and polyfilm maker Vishakha Group have teamed up to set up India’s largest solar glass plant in Gujarat. The factory is initially planned to have a capacity equivalent to 3 GW of solar installation per annum.
Modules represent 45 to 55% of the project capex. In a very competitive market like India, independent power producers have lower margins, and even a modest increase in module prices will put more pressure on them.
Despite a Covid-hit first quarter, Borosil Renewables registered a strong growth in annual revenues driven by record sales and high price realizations in the fourth quarter.
The government of India has recognized the manufacturer for the development and commercialization of 2mm thick fully-tempered solar glass, Selene anti-glare solar glass, and Shakti solar glass in matt-matt finish.