Indian Borosil to expand solar glass production capacity to 2,000 tonnes per day – pv magazine International
The solar panel glass maker expects strong growth in demand for its products at home and abroad, with a significant increase expected in the production of photovoltaic modules in the United States and Europe.
From pv magazine india
Borosil Renewables will increase its solar panel glass manufacturing capacity from 450 tonnes per day to 2,000 as it continues to experience strong demand growth. The company is adding a third solar line with a capacity of 550 metric tons that is expected to start production by September and will increase the manufacturer’s daily production capacity to 1,000 tons.
Another doubling of capacity, thanks to the addition of two other lines of solar glass, has already been approved by the company’s board of directors. Of these, one is expected to enter service in the third quarter of next year.
Thinner glass – 2mm, 2.5mm and 2.8mm – currently takes up almost 30% of Borosil’s production capacity and the company expects its 2mm products to account for at least a share similar to its increased capacity, due to the growing demand for bifacial solar panels. .
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Borosil recorded net sales of INR169 crore ($22.3 million) in the October-December quarter, up 20% from figures released a year earlier. Exports, including to customers in special economic zones, amounted to INR 44.6 crore ($5.89 million) to account for 26.5% of quarterly revenue. The glassmaker took in net profits of INR 45.7 crore for the three-month window.
This meant that net sales for the nine months of the financial year to the end of December amounted to INR465 crore, up 51% from the same period of FY2021.
The manufacturer said it expects domestic demand to be driven by large volumes of solar capacity ordered by government policies.
Presenting the company’s report for the third quarter of the fiscal year, Borosil’s Executive Chairman, PK Kheruka, said, “The government has announced three major milestones underscoring its commitment to establishing a strong national solar manufacturing ecosystem. The first is the announcement of an additional allocation of INR 19,500 crore ($2.58 billion) under the PLI [production-linked incentive] scheme [to incentivize manufacturing capacity for] solar cells and modules, bringing the total allocation to a very impressive INR 24,000 crore ($3.17 billion). The second is the official announcement of a basic customs duty on solar panels at 40% and on solar cells at 25%, effective April 1, 2022. The third is the diagram of the approved list of models and of manufacturers introduced a few months ago, so that only Indian solar module manufacturers are able to bid on many types of government tenders, which have now been extended to open access and billing projects net. As a result, we expect large incremental capabilities, already announced, to now be implemented.
“Even though 14 GW of solar module manufacturing capacity exists in India, the actual production was around 5.5 GW in FY 2021. We expect the installed capacity to increase to 50 GW of solar panels during of the next three years. This will give a big boost to the domestic production of solar equipment in India, resulting in a major shift of imports from China to sourcing from domestic manufacturers. Hence, we expect an increase in the demand for solar glass in India.
Kheruka said Borosil is in advanced discussions with many domestic manufacturers looking for Indian-made solar glass. The manufacturer also anticipates attractive future export growth thanks to an expected increase in solar module production in major markets such as Europe and the United States.
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