Borosil Renewables, a solar glass manufacturer, has approved a revised expansion plan to boost its production capacity by 600 tons per day (TPD) at an estimated investment of ₹950 crore. The decision, announced following a board meeting on Friday, comes in anticipation of a strong demand surge driven by recent government trade policies.
Two New Furnaces to Drive Capacity Growth
The company will execute the expansion by setting up two new furnaces, each with a capacity of 300 TPD. This move is expected to significantly raise the total output capacity at Borosil’s Bharuch facility in Gujarat, which currently operates at 1,000 TPD. The revised investment plan supersedes an earlier proposal to invest ₹675 crore for 500 TPD, reflecting Borosil’s growing confidence in the domestic market outlook.
Strategic Response to Government’s Anti-Dumping Duty
Borosil attributed its decision to the government’s recent move to impose a five-year anti-dumping duty on solar glass imports from China and Vietnam, effective December 4, 2024. The company believes this policy will level the playing field for domestic producers and accelerate growth in India’s solar glass manufacturing sector.
Flexible Financing Strategy in Place
Management will finance the ₹950 crore investment through a combination of equity, debt, internal accruals, or any mix thereof. This flexible approach aims to support the company’s capital requirements while maintaining financial health.
Scaling Toward India’s Clean Energy Goals
Part of the Borosil Group, Borosil Renewables operates a manufacturing facility spread across 100 acres in Bharuch, with a current solar glass production capacity equivalent to 6.5 GW per annum. Msn.com reports that the latest expansion will further strengthen India’s domestic solar supply chain and support national renewable energy targets.
