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

Emmvee Photovoltaic Power has announced that its subsidiary, Emmvee Energy, has commissioned a 2.5 GW solar module manufacturing line at its facility in Sulibele, Hoskote Taluk, Bengaluru, Karnataka. The commissioning marks a key milestone in the company’s ongoing capacity expansion strategy.

According to a regulatory filing, the newly operational line was completed in line with the timelines outlined in the offer documents submitted during the company’s recent initial public offering (IPO). With this addition, Emmvee’s total solar module manufacturing capacity has increased to 10.3 GW.

The company currently operates 2.94 GW of solar cell manufacturing capacity and has further expansion plans underway. A 6 GW integrated solar cell and module manufacturing facility is scheduled to commence operations in the first half of FY28. Emmvee has also received a possession certificate from the Karnataka Industrial Areas Development Board (KIADB) for 100 acres of land, supporting its future manufacturing roadmap.

In a separate disclosure, Emmvee Energy stated that under the Group Captive and Open Access Power Purchase framework, it has committed to invest up to Rs 8.544 crore in equity shares of Clean Renewable Energy KK 1C, a special purpose vehicle associated with a 175 MW hybrid renewable energy project in Karnataka.

The company recently concluded its Rs 2,900 crore IPO, which included a fresh issue of Rs 2,143.9 crore. A substantial portion of the proceeds—approximately Rs 1,621 crore—has been utilised to repay long-term debt, resulting in a stronger balance sheet and reduced interest costs. The remaining funds will be deployed for general corporate purposes, including working capital optimisation.

Emmvee reported strong financial performance in H1 FY26, with revenue from operations rising to Rs 2,158.8 crore, a 193.5% increase compared to Rs 735.6 crore in H1 FY25. The company’s profit after tax (PAT) surged 578.6% to Rs 425.5 crore during the same period, up from Rs 62.7 crore a year earlier.