Solar panel maker Emvee Energy to set up Rs 15,000 crore plant in Bengaluru
Emvee Energy, manufacturer of solar photovoltaic panels, on Thursday, said it will invest Rs 15,000 crore to build a manufacturing plant and create 10,000 jobs.
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Karnataka industries minister MB Patil said the investment will occur in a phased manner with Emvee initially investing Rs 5,000 crore to set up a facility with a 5 GW power generation capacity.
Patil said, “The company has sought 120 acres of land in Bengaluru's IT Investment Region (ITIR) for the project. The government will facilitate this request after due consideration.” ITIR is located beyond the Kempegowda International Airport in the city.
The minister added that the investment is part of the proposals for which a Memorandum of Understanding (MoU) was signed during the recently concluded Global Investors Meet (GIM) — Invest Karnataka 2025.
Emvee manufactures essential components for solar power generation, including aluminium frames, glass, EPE, JB Ribbon, and wafers. “The proposed plant will contribute to sustainable development by promoting green energy production,” the release said.
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