Indian manufacturer to set up new solar glass factory


From pv magazine India

New Delhi-based Gold Plus Glass Industry, India’s second-largest float glass manufacturer, has announced plans to set up a new solar glass factory

Gold Plus Director Vivek Dubey told pv magazine that the company plans to build the new solar glass factory at a location in southern India. The plant will have a capacity of 300 tons per day and will be operational by September 2023.

The company is already in discussions with government authorities in at least two southern states to secure land and funding, as well as subsidies. It will likely choose a state and a plot of land within the next three to four weeks.

The plant will produce extra clear, textured glass with anti-reflective coatings. The thicknesses will range from 2 mm to 6 mm (including 3.2 mm).

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“The plant will be able to provide the complete range of glass required for solar PV modules, including 2 mm tempered solar glass,” Dubey told pv magazine. At present, the idea is to meet domestic demand, but the company is also ready to explore export opportunities, he added.

Currently, Borosil Renewables is the only solar glass manufacturer in India. It has a factory in Bharuch, Gujarat, that accounts for about 40% of India’s solar glass demand.

Given the ambitious solar energy target laid out by the Indian government, the move by Gold Plus into solar glass manufacturing will be welcomed by PV panel manufacturers. Many domestic module suppliers are also now in the process of expanding their own capacity

Gold Plus is looking to finance its expansion through a mix of internal accruals, equity fundraising, and debt. KPMG has been appointed to assist the company in raising funds. The company is already backed by Azim Premji’s investment unit,  Premji Invest.

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