Borosil Renewables has filed for bankruptcy for its German branch. GMB Glasmanufaktur Brandenburg GmbH, marking its exit from the struggling European solar glass market.
The company made this decision because its German unit was continuously losing money. Now the company wants to stop losses and focus completely on the fast-growing Indian solar manufacturing industry.
GMB could produce 350 tonnes of solar glass per day, but the business started losing money because demand had dropped. This happened because cheap Chinese solar panels flooded the market, and many local German manufacturers shut down.
Borosil had invested around €35.3 million (about ₹340 crore) in GMB through capital and loans by March 31, 2025. Since the bankruptcy process began on July 4, 2025, the company will no longer be affected by any future losses from its German unit.
This move allows Borosil to save cash and divert funding into its business in India, where the solar sector is growing.
India’s module manufacturing capacity has overtaken 90 GW and is expected to grow to 150 GW by March 2027.
Borosil also plans to invest ₹950 crore to expand its solar glass production by 600 tonnes per day to improve its position in the market.
Supportive government policies, including the Production Linked Incentive (PLI) scheme, ALMM mandates, and anti-dumping duties on Chinese and Vietnamese imports, are creating a highly favorable environment for domestic players.
This will be done through two new furnaces, each with a capacity of 300 TPD, marking a 60% increase over the company’s current output. Domestic glass prices are also rising, jumping 28% year-over-year in Q4 FY25 from ₹99.6 to ₹127.6 per mm/m².
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