Emmvee Energy to invest Rs 15 000 cr in Karnataka for solar manufacturing plant

Bengaluru, Feb 20 (PTI) Emmvee Energy, a manufacturer of high-quality solar photovoltaic panels and modules, announced plans to invest Rs 15,000 crore in a phased manner to establish a manufacturing plant, Karnataka’s Minister for Large and Medium Industries, M B Patil, said on Thursday.
    He made this announcement after senior company representatives met him at Vidhana Soudha.
    The minister noted that the investment is part of the proposals for which a Memorandum of Understanding was signed during the recently concluded Global Investors Meet (GIM)–Invest Karnataka 2025.
    According to the minister, Emmvee Energy will initially invest Rs 5,000 crore to set up a facility with a 5 GW power generation capacity, creating 10,000 jobs, his office said in a release.
    The company has requested 120 acres of land in the Bengaluru IT Investment Region (ITIR) for the project. The government will facilitate this request after due consideration, Patil added.
    Emmvee Energy is a key player in manufacturing essential components for solar power generation, including aluminium frames, glass and wafers, so on.
    The proposed plant will contribute to sustainable development by promoting green energy production, the minister emphasised.

(This story has not been edited by THE WEEK and is auto-generated from PTI)