Indian solar solutions manufacturer Emmvee Photovoltaic Power announced the commissioning of a new 2.5 gigawatt (GW) photovoltaic module production line by its subsidiary Emmvee Energy Private Limited. The facility, located in Sulibele in the Bengaluru district of Karnataka, is now fully operational, in line with the rollout schedule announced during its initial public offering.
A key step in the expansion plan
This commissioning is part of the company’s industrial capacity expansion strategy, already disclosed in its initial offering documents. With this new unit, the group’s total solar module manufacturing capacity now stands at 10.3 GW. The announcement prompted a strong market reaction: Emmvee Photovoltaic Power shares rose by 6%, reaching an intraday high of ₹196.05 (around $2.35) on the BSE (Bombay Stock Exchange), before stabilising at ₹194.1 ($2.32), up 5%.
Market capitalisation and stock performance
Emmvee’s current market capitalisation stands at ₹13,438.42 crore ($1.61bn). The stock is trading within a range defined by a 52-week high of ₹248.35 ($2.98) and a low of ₹171.5 ($2.05). The recent performance occurred in a context of relative strength in the BSE Sensex index, which was up 0.61% at 85,444.24 points at the same time.
Parallel investment in decentralised generation
In addition, Emmvee Energy announced it had signed an agreement to invest up to ₹8.544 crore ($1.02mn) in Clean Renewable Energy KK 1C Private Limited. This transaction falls under the Group Captive and Open Access procurement mechanism, designed to secure cost-efficient renewable energy supply for its industrial operations.
Founded in 1992 and headquartered in Bengaluru, Emmvee designs and manufactures solar thermal systems and photovoltaic modules. The group primarily targets residential, commercial and industrial segments, focusing on product quality and reliable delivery.
