The MoU follows last year’s announcement about the expansion of annual manufacturing capacity to 3 GW from 0.5 GW
Bangalore-based solar module manufacturer Emmvee has announced that it has signed a memorandum of understanding (MoU) with the Karnataka government to set up an Rs 825 crore solar modules and cells manufacturing plant in the state.
The plant is coming up at Dobaspet, Karnataka and is an addition to the manufacturer’s existing solar modules manufacturing plant of 0.5 GW capacity in Bengaluru district of the state.
The plant is expected to provide jobs to 736 local youths, the company said in a statement.
The MoU for the plant was signed between Karnataka government officials and Emmvee Managing Director D V Manjunatha in the presence of then Chief Minister B.S.Yediyurappa.
Speaking on the occasion, Former Chief Minister B.S. Yediyurappa had said that huge investments are coming in the solar and other non-conventional sources of energy due to the government’s incentives and growing demand for solar modules and solar cells in the state.
Emmvee Managing Director D V Manjunatha thanked the Chief Minister for his support.
The MoU for latest addition by the company follows last year’s announcement about expansion of annual manufacturing capacity to 3 GW from 0.5 GW, with a production capacity of 9 MW per day.
The commercial and industrial (C&I) segment in India is expected to add 1,875 megawatt (MW) of new capacity in 2021, an increase of 47 per cent compared to the previous year as per a report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research.
