Borosil Renewables Limited (BRL) has acquired an 86% stake in Interfloat Group, Europe’s largest manufacturer of textured tempered solar glass, through its overseas wholly-owned subsidiaries. The Interfloat Group consists of GMB Glasmanufaktur Brandenburg GmbH (GMB), located in Tschernitz, Germany, and Interfloat Corporation (Interfloat), based in Ruggell, Liechtenstein.

GMB operates a solar glass plant with a production capacity of 300tpd boosting BRL’s solar glass manufacturing capacity to 750tpd. This capacity of the combined entity will further increase to 1,300tpd with the commissioning of a new furnace with a capacity of 550tpd in India.

Under the “Solar Manufacturing Accelerator” programme, the EU foresees an increase in domestic European production of solar photovoltaic modules and the entire range of components. The EU solar energy strategy proposed under the REPowerEU plan aims to bring about 320 GW of solar photovoltaic by 2025 (i.e. double the current solar PV capacity) and almost 600 GW by 2030.

Pradeep Kheruka, Executive Chairman of Borosil Renewables Ltd., said, “The extreme crisis now being faced not only in Europe but across the world from sudden disruption in the supply of natural gas has given great impetus to the urgent requirement for solar installations. The demand for domestically manufactured solar PV modules has increased significantly leading to a higher demand for solar glass by our European customers. In the light of substantial expansion in our capacity in India, we expect to enhance the reliability of our supply chains for our customers. We believe that by leveraging the existing synergies and several complementary skill sets offered by the two companies, we will be able to serve our customers better. We continue to strongly believe that this acquisition moves us closer to our vision of being the most customer-centric company in the world.”

www.borosilrenewables.com

Image: Pradeep Kheruka, Executive Chairman of Borosil Renewables Ltd.