Gold Plus Forays Into Solar Glass Manufacturing In Karnataka

Delhi-based solar glass manufacturer Gold Plus Glass Industry (Gold Plus) recently commissioned its manufacturing facility in Karnataka. The company is one of the largest float glass manufacturers in India, holding a 22% share of the country’s float glass manufacturing capacity as of September 30, 2023 (Source: CRISIL Report, January 2024). With this new solar glass manufacturing unit, Gold Plus has further diversified its product offerings by entering the solar glass segment.

The Gold Plus’s Karnataka project achieved Commercial Operations Date (COD) milestones in June 2024. The total phase-wise float glass manufacturing capacity installed in the project is 584,000 metric tons per annum and Solar Glass manufacturing capacity is 109,500 metric tons per annum.

The company made a total investment of Rs. 2,500 crore for its capacity expansion in India’s glass manufacturing industry. It already has an existing facility of 456,250 metric tons per annum at its Roorkee Plant. [With the addition of the Karnataka facility, Gold Plus’ total installed float glass capacity now exceeds one million tons annually, reaching 1,040,250 metric tons per annum, and Solar Glass capacity of 109,500 tons per annum. As per CRISIL report dated January 2024, post expansion and achievement of COD in June 2024, the Company’s capacity share is expected to be 26.1% of the total float glass industry capacity in India.

The solar glass sector has been in the spotlight in recent years thanks to multiple initiatives to increase domestic production, while protecting domestic manufacturers from Chinese competition. Current domestic capacity is still not enough to meet demand fully however, with Industry leader Borosil Renewables threatening to go slow on expansion plans due to unremunerative prices. However, the situation seems to have changed for the better after the recent decision on imposing duties on imports.
Solar glass making is also a much more complicate endeavour than standard glass making, as it demands higher precision and quality standards.