Borosil Renewables Restructures Operations, Focus Turns to India’s Solar Market
In a significant realignment of global operations, Borosil Renewables Limited, India’s only solar glass manufacturer, has announced its exit from the European market. Instead, the company is channeling its energy and investments into India’s rapidly growing solar sector. This move marks a turning point not only for Borosil but also for the country’s position in the global renewable energy industry.
This blog dives into why this decision was made, what it means for India’s solar future, and why such shifts are essential for building a truly self-reliant clean energy ecosystem.
European Exit: The
End of a Struggling Chapter
Borosil Renewables has decided to wind down the operations of its German subsidiary, Glasmanufaktur Brandenburg GmbH (GMB), following a prolonged period of financial losses. The decision was solidified when GMB filed for insolvency in a German court under the local insolvency laws.
So, what went wrong?
The Challenges in Europe:
- Market Saturation: The European solar glass market faced a flood of low-cost Chinese solar modules.
- Profitability Crisis: With prices driven down and local producers struggling to compete, demand for solar glass from regional suppliers collapsed.
- Sinking Numbers: Despite providing over €27 million in support, GMB continued to incur losses of about €0.9 million (₹9 crore) every month.
- Cascading Impact: Major European players like Meyer Burger also exited the space, creating an unstable and shrinking market for solar glass manufacturing.
Borosil’s exposure to its German business increased to €35.3 million by March 2025. Continuing operations would only deepen financial losses and distract from more promising opportunities elsewhere.
Strategic Pivot: Turning the Focus to India
While closing a chapter in Europe, Borosil is opening a brighter one in India. Chairman P.K. Kheruka summarized the sentiment behind the move, stating that the company is now ready to fully embrace India’s potential in solar manufacturing.
And he has every reason to believe in it.
Why India Makes Sense:
· Strong Demand: By 2027, India’s solar module capacity is predicted to exceed 150 GW, having already surpassed 90 GW.
- Supportive Policy Environment: Government initiatives like anti-dumping duties and production-linked incentives are strengthening the manufacturing sector.
- Cost-Competitiveness: Domestic players now have better profit margins as imported solar components face tariffs.
- Visionary Targets: India’s target of achieving 500 GW of non-fossil fuel capacity by 2030 is pushing demand for solar infrastructure, including solar glass.
This momentum provides fertile ground for Borosil’s expansion plans.
The Expansion Blueprint: Borosil’s Next Big Leap
With the focus now firmly on India, Borosil is taking bold steps to scale up its local operations. The company has unveiled an aggressive expansion plan designed to capitalize on the rising demand for solar components.
Expansion Highlights:
· Increased Capacity: Borosil intends to increase its manufacturing capacity by 60%.
- New Infrastructure: Two new furnaces will be added, each with a capacity of 300 tonnes per day (TPD), bringing the total increase to 600 TPD.
- Capital Investment: An estimated ₹950 crore will be invested to make this expansion a reality.
This is a commitment to empowering India’s solar energy future, not just a financial decision.
By enhancing domestic solar glass production, Borosil is also reducing India’s dependence on imports and securing the supply chain.
Market Signals:
The Winds Are Changing
Borosil’s move to India is in line with a larger trend of change in the world’s solar sector. Manufacturers are starting to favor stable, growing markets over volatile ones with inconsistent demand and high competition from Chinese exporters.
In India, solar glass prices have risen by 28% year-on-year, thanks in large part to:
- Import Tariffs: Duties on solar glass imports from China and Vietnam have made local products more competitive.
- Supply Gaps: With demand increasing rapidly, domestic manufacturers are stepping in to fill the void left by global disruptions.
- Government Support: Programs promoting “Make in India” and green energy adoption are offering financial and policy advantages.
These factors make India not only an attractive manufacturing base but also a highly rewarding market for clean energy innovations.
A Closer Look at
the Timing
Borosil’s strategic move comes at a crucial time when India is positioning itself as a global leader in renewable energy. The government’s push toward energy independence, sustainability, and infrastructure development is opening doors for manufacturers across the value chain—including solar inverters, panels, and glass.
This makes Borosil’s renewed focus on India not just reactive, but visionary.
The Perfect Conditions:
- High Demand Curve: With rapid urbanization and industrialization, the need for clean energy solutions is greater than ever.
- Policy Alignment: From subsidies to tariffs, every policy arrow is pointing toward local manufacturing.
- Technology Readiness: Companies like Borosil and Feston SEV have the tech and talent to scale.
What This Means
for the Solar Industry
This restructuring is more than a business headline—it’s a signpost for the entire industry.
For India:
- Greater self-reliance in solar components
- Improved job creation in the green manufacturing sector
- Enhanced national energy security
For Industry Stakeholders:
- Clear indication that India is the future of solar manufacturing
- Encouragement for more players to invest locally
- A shift in global strategies toward India-first operations
Conclusion: A New
Chapter for a Brighter Tomorrow
Borosil Renewables’ decision to withdraw from Europe and double down on India is a calculated, future-forward move that reflects the country’s rising importance in the global solar value chain. As the company scales its operations and strengthens its domestic footprint, it is not only securing its own growth but also contributing significantly to India’s energy transformation.
This is a powerful reminder that the sun doesn’t just shine—it powers nations. And today, India is where it shines brightest.
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