Indian photo voltaic glass producer Borosil Renewables has acquired a 86% stake in Interfloat Group increasing its buyer base in Europe.
With the acquisition of its European peer, the Indian producer will increase its photo voltaic glass output by 66% to 750 tonnes per day (TPD), which can enhance to 1,300 TPD in This fall 2022 with the commissioning of a brand new furnace of 550 TPD in India.
Comprising two firms – Germany-based GMB Glasmanufaktur Brandenburg and Liechtenstein-based Interfloat Company – Interfloat Group is the most important textured tempered photo voltaic glass producer in Europe, with a present capability of 300 TPD, in keeping with Borosil.
Regardless of Europe’s excessive vitality costs and the geopolitical uncertainty affecting Europe’s manufacturing trade, Interfloat’s acquisition will strengthen Borosil’s world market place “in the long term”, in keeping with Borosil.
Pradeep Kheruka, government chairman of Borosil Renewables, mentioned: “The demand for domestically manufactured photo voltaic PV modules has elevated considerably resulting in a better demand for photo voltaic glass by our European prospects. Within the mild of considerable enlargement in our capability in India, we count on to reinforce the reliability of our provide chains for our prospects.”