Borosil Shuts German Subsidiary to Refocus on Booming Indian Solar Market

Borosil Renewables has shut its loss-making German subsidiary to stop financial drain and focus fully on India’s rapidly growing solar market. With strong policy support and rising demand, the company is expanding capacity by 600 TPD to strengthen its leadership at home.

Strategic Shift: Exiting Europe

Mumbai, July 7, 2025: Borosil Renewables Limited’s decision to file for insolvency for its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, marks a major strategic pivot towards India. GMB faced prolonged market challenges in Europe, driven by an influx of underpriced Chinese solar modules, which forced several European manufacturers to shut down. Despite Borosil’s continued operational and financial support of €27 million, GMB suffered unsustainable monthly losses of € 0.9 million.

Refocusing on India's Solar Boom

With this decisive move, Borosil effectively halts further financial drain, freeing up approximately € 0.9 million operational expenditure. This enables the company to sharpen its focus on India’s fast-growing solar sector. India’s solar module manufacturing capacity is expected to reach 150 GW by March 2027, creating strong demand for domestic solar glass. Supportive government policies, including the five-year anti-dumping duty on imports from China and Vietnam announced in December 2024, have further strengthened the market. As a result, solar glass prices rose by 28% year-on-year in Q4 FY25, offering a highly favourable business environment.

Strengthening Domestic Leadership by expanding the production capacity

Borosil’s ₹950-crore investment plan to expand its solar glass capacity by 600 TPD through two new furnaces perfectly aligns with this shift. This expansion reinforces its market leadership and underlines its commitment to scaling operations within India, where the growth potential is substantial, and policy support is robust.

Parameter

Snapshot

Current Capacity

1,000 TPD of solar glass, Bharuch in Gujarat

Planned Expansion

+600 TPD via two new furnaces

Investment Commitment

₹950 crore

Policy Tailwind

5-year anti-dumping duty (from Dec 2024) on imports from China & Vietnam

Price Trend (Q4 FY25)

Solar glass prices up 28% YoY

Looking Ahead

Overall, this strategic reorientation is a prudent and forward-looking decision. It enhances Borosil Renewables’ financial and operational flexibility, enabling it to focus resources on India’s vibrant solar manufacturing ecosystem. By doubling down on India, Borosil positions itself strongly to support the country’s energy transition goals while delivering long-term value to all stakeholders.

Last Modified: 9/7/2025