Emmvee Targets Higher Revenue with New Solar Manufacturing Plant in Bengaluru

Emmvee Targets Higher Revenue with New Solar Manufacturing Plant in Bengaluru

India: Emmvee, a solar energy company based in Bengaluru, is aiming to achieve revenues of Rs 2,500 crore (approximately USD 291 million) this year, driven by a strong order book and expansion in both domestic and international markets. The company recently inaugurated a new manufacturing facility in Sulibele, near Kempegowda International Airport, adding approximately 2 GWp module capacity and increasing its total solar photovoltaic module capacity to around 6.6 GWp, alongside 2.5 GWp in solar cells. The new 4 lakh square foot facility, developed at an investment of Rs 250 crore (approximately USD 29.1 million), is expected to employ over 500 workers. Emmvee also operates a larger plant in Dobbaspet, Tumakuru, where it primarily focuses on solar modules, which currently contribute around 95 percent of its business. 

Emmvee has extended its reach to international markets across Europe, Africa, and North America, including a solar power plant in Germany, while maintaining a focus on domestic production and localisation. The company currently achieves over 50 percent localisation and plans to align solar cell production with module manufacturing to reduce reliance on imports. Emmvee is also contributing to Indian government initiatives such as the PM Suryaghar Yojana and PM-KUSUM scheme. As part of a long-term growth strategy, the company has committed to investing Rs 15,000 crore (approximately USD 1.75 billion) in a new solar manufacturing hub in Karnataka, supporting the national renewable energy targets of 450 GW by 2030 and net zero emissions by 2047. Solar energy currently accounts for 105.65 GW of India’s total renewable energy capacity. 

Source: Indian Express