has outlined an aggressive strategy to enter the rooftop solar business, also marking its entry into a direct consumer facing industry.
The company is expanding downstream from making solar glass into branded distributed solar solutions and expects this business to contribute ₹100 crore in the first year of the pilot.
Pradeep Kumar Kheruka, Chairman, Borosil Renewables said there is a massive demand for solar roof tops in India driven largely by the National Solar Mission and the PM Surya Ghar Muft Bijli Yojana launched in February 2024, which has led surge in residential demand for solar roof tops.
The government aims to solarise 10 million households by March next year through solar roof tops and the company is well positioned to cater the demand, he added.
The Council on Energy, Environment and Water and government data indicates that India has the potential to generate 796 GW of solar power, with a majority 637 GW coming from residential rooftops (363 GW in rural areas and 274 GW in urban areas).
Borosil Renewables is offering a complete rooftop solar solution to consumers, including solar panels, inverters and lithium-ion batteries, with the latter two being sourced currently. The company will sell, install and offer after sales service as well, marking its entry into a consumer facing business.
Borosil Renewables currently produces 1,000 tonne per day of solar glass capacity which is being increased to 1,600 TPD following the addition of two 300 TPD furnaces. The company expects the additional capacity to be commissioned between December and March with full benefits to be visible in 2027-28.
Kheruka said the increase in capacity will help increase revenue by about 60 per cent once the capacity utilisation has been achieved. Once the two new furnaces get operational, we expect our EBIDTA to increase substantially from the current level of 32 per cent, he added.
India is largely dependent on imports for solar glass with imports hovering at 8500 tonne of solar glass every day, while the local production is just 1,700 tonne. Given this gap, the demand for Made in India solar glass is booming.