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Emmvee Commissions 2.5 GW Solar Module Line in Karnataka, Total Capacity Reaches 10.3 GW

Emmvee Energy, a subsidiary Emmvee Photovoltaic Power, has announced the commissioning of a 2.5 GW solar module line in Bengaluru, raising total manufacturing capacity to 10.3 GW.

December 22, 2025. By Mrinmoy Dey

Solar module and cell manufacturer Emmvee Photovoltaic Power has announced that its subsidiary Emmvee Energy has commenced operation of its 2.5 GW solar module line at its factory located in Sulibele, Hoskete Taluk, Bengaluru, Karnataka.

This commissioning forms part of the company's planned capacity expansion as disclosed in the offer documents filed in connection with its initial public offer and has been completed in line with the envisaged timeline, the company said in a regulatory filing.

It further added that with this, the company's aggregate solar module manufacturing capacity now stands increased to 10.3 GW. The company also has a solar cell manufacturing capacity of 2.94 GW, with additional facilities in the pipeline. A 6 GW integrated solar cell and module plant is slated to begin operations in the first half of FY28. The company recently announced the receipt of possession certificate from Karnataka Industrial Areas Development Board (KIADB) for 100 acres of land.

In a separate filing, the company informed that under the Group Captive and Open Access Power Purchase Framework, Emmvee Energy has agreed to invest up to INR 8.544 crore in the equity shares of Clean Renewable Energy KK 1C, a project SPV linked to the 175 MW hybrid project in Karnataka.

Last month, Emmvee completed its Initial Public Offering (IPO), raising a total of INR 2,900 crore, including fresh issuance of INR 2,143.9 crore. A large part of the IPO proceeds has been used to repay about INR 1,621 crore of long-term debt, strengthening the balance sheet and lowering interest costs. The rest will go toward general corporate purposes, which will optimise working capital needs, thus further reducing finance costs, the company stated.

In H1 FY26, the company’s revenue from operations increased to INR 2,158.8 crore – recording a 193.5 percent jump from H1 FY25’s INR 735.6 crore. Its PAT increased by 578.6 percent to INR 425.5 crore in H1 FY26 from INR 62.7 crore reported in H1 FY25.

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