Emmvee Energy, a material subsidiary of Emmvee Photovoltaic Power, has commenced operations of its 2.5 GW solar module manufacturing line at its facility located at Sulibele in Hoskote, Bengaluru.

The company’s aggregate solar module manufacturing capacity has now increased to 10.3 GW.

The new manufacturing line forms part of the company’s planned capacity expansion program.

Emmvee Energy also has a solar cell production capacity of 2.94 GW per annum based on Tunnel Oxide Passivated Contact (TOPCon) technology.

In August 2025, Emmvee Energy was included in the Approved List of Models and Manufacturers List-II for its bifacial N-type TOPCon cells with a capacity of 1,553 MW/year. The cells have an average efficiency of 24.62% and a wattage of 8.24 W.

Recently, Emmvee Photovoltaic Power invested ₹85.4 million (~$1.03 million) in equity in Clean Renewable Energy KK 1C, a special purpose vehicle (SPV), as part of its group-captive and open access power procurement strategy. The investment will result in Emmvee Energy acquiring a 14.35% equity stake in the target entity.

The SPV is associated with a 175 MW hybrid renewable energy project in Karnataka. The target entity’s paid-up share capital stands at ₹183.9 million (~$22.22 million).

In December this year, Emmvee Photovoltaic Power entered into a supply agreement with a domestic buyer for the offtake of 4.5 GWp of TOPCon crystalline silicon solar cells.

In June, the company bagged a ₹15 billion (~$174.31 million) order from KPI Green Energy to supply TOPCon bifacial solar modules for an upcoming project in Gujarat. The modules would be produced at Emmvee’s facilities in Dabaspet and Sulibele in Karnataka, with deliveries expected to be completed within the current financial year.

The company reported a revenue of ₹11.31 billion (~$125.82 million) for the second quarter of the financial year 2026, a year-over-year increase of 181.1%.

In November this year, Emmvee Photovoltaic Power’s ₹30 billion (~$350.12 million) initial public offering was subscribed 0.97 times at the end of the bidding window on November 13, 2025.