Borosil Renewables Establishes SAMA to Advocate for Solar Ancillary Industry

On August 1, 2024, Borosil Renewables Limited, along with five other founding members, announced the formation of a new entity under Section 8 of the Companies Act, 2013. The newly established organisation is the Solar Ancillary Manufacturers’ Association (SAMA). It has been incorporated in Maharashtra, following the issuance of the Certificate of Incorporation by the Central Registration Centre, Manesar, under the Ministry of Corporate Affairs.

SAMA is a ‘Not for Profit’ company designed to safeguard the interests of the solar ancillary industry. As a Section 8 company, SAMA will operate without the intent of generating profits, focusing instead on fostering collaboration and advocating for the sector’s needs. The association’s formation aims to provide a unified voice for stakeholders in the solar ancillary space, ensuring their perspectives are represented in policy discussions and regulatory decisions.

The primary objective of SAMA is to collaborate with industry members and represent their collective views before government bodies and other relevant authorities. This initiative is intended to ensure that the concerns and interests of the solar ancillary sector are duly considered when policies affecting the industry are developed. By forming this association, Borosil Renewables and its founding partners seek to enhance the industry’s influence in shaping favourable regulations and standards.

The incorporation of SAMA does not qualify as a related party transaction, as it is a newly established entity with a distinct operational mandate. It is worth noting that Gujarat Fusion Glass LLP, part of Borosil Renewables’ promoter group, is also one of the founding members of SAMA. This strategic move underscores the commitment of Borosil Renewables and its partners to advancing the solar ancillary industry’s growth and addressing its challenges through organised and collective representation.

About Borosil Renewables Limited

Borosil Renewables is engaged in manufacturing extra-clear patterned glass and Low-Iron Solar Glass for use in Photovoltaic panels, Flat plate collectors, and Greenhouses.

On August 2, 2024, the share price of Borosil Renewables Ltd opened at ₹539.90, touching the day’s high at ₹544.90, as of 10:31 AM on the NSE.

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