Borosil Renewables, a maker of solar panel glass, has stated that it will invest Rs 1,500 crore over the next two years to nearly double its production and supply glass for 15 GW of solar modules by FY25.
India has around 15 GW of solar module production capacity as of March 2022. Due to severe competition from low-cost imports and low installations, the country’s real usage of local production is around 6 GW each year (about average 40-45 percent utilization).
However, with a favorable policy environment, which would assist establish enablers for investments in local manufacturing, this tendency is projected to shift. Various existing and new businesses are projected to contribute around 37GW of additional capacity, bringing the total capacity to more over 50GW.
Borosil Renewables is doubling its investment since it is the first and only indigenous maker of solar panel glasses, and the sky is the limit because demand is expected to skyrocket.
As a result, the business is spending an additional Rs 1,500 crore to increase capacity to 1,550 TPD (Tonnes Per Day) by FY24 and 2,100 TPD by FY25, allowing them to deliver 15 GW of solar modules.
Borosil also intends to invest in its most recent German purchase, Interfloat Group, in order to boost its capacity from 300 TPD to 500 TPD by 2023. With these investments, they will become the world’s largest non-Chinese-owned firm.
This is a Syndicate News Feed; edited by Clean-Future Team