Indian solar glass manufacturer Borosil Renewables acquired an 86% stake in Interfloat Group, the largest textured tempered solar glass producer in Europe. The move helps expand Borosil’s customer base into Europe.

Interfloat Group comprises two companies – Germany-based GMB Glasmanufaktur Brandenburg and Liechtenstein-based Interfloat Corp.

“The demand for domestically manufactured solar photovoltaic modules has increased significantly leading to a higher demand for solar glass by our European customers,” says Pradeep Kheruka, executive chairman of Borosil. “In the light of substantial expansion in our capacity in India, we expect to enhance the reliability of our supply chains for our customers.”

Kheruka adds that the acquisition will strengthen Borosil’s global position in the future and allow it to supply more volumes of solar glass.

“Borosil is committed to investing in manufacturing in Europe and will be increasing capacity at GMB’s Tschernitz plant at an appropriate time shortly,” he says. “This means that Borosil and Interfloat will be able to supply significantly higher volumes of solar glass to their present and new customers by improving the serviceability as a result of the production from two locations now.”

Borosil says that it will increase its solar glass output by 66% to 750 tons per day, which will increase to 1,300 tons per day in Q4 2022 following the commission of a new furnace in India.