German solar glass manufacturer GMB enters insolvency
German solar glass manufacturer Glasmanufaktur Brandenburg (GMB) has filed for insolvency after posting monthly losses of €900,000 this year.
Borosil Renewables has announced that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency under German Insolvency Code (InsO) before the jurisdictional court at Cottbus.
GMB, with a capacity of 350 tonnes per day (TPD), had served European manufacturers of solar modules for their requirements of solar glass. However, demand erosion became drastic last year, as Chinese manufacturers flooded the European market with severely underpriced solar modules.
India's solar module manufacturing capacity has already crossed 90 gigawatts and is expected to reach 150 gigawatts by March 2027, creating massive potential for domestic solar glass makers. Borosil aims to double down on its solar glass innovation, manufacturing scale, and ESG-aligned clean energy strategy.
The recent imposition of a five-year anti-dumping duty on solar glass imports from China and Vietnam, effective December 4, 2024, has created a more level playing field for Indian producers.
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