Karnataka Industries Minister MB Patil with a delegation of Emmvee Energy.
Credit: X/@MBPatil
Bengaluru: Karnataka-based Emmvee Energy, a manufacturer of solar photovoltaic panels and modules, announced plans on Thursday, to invest Rs 15,000 crore to establish a manufacturing plant. This investment is expected to create 10,000 jobs.
The company has sought 120 acres of land in the Bengaluru IT Investment Region (ITIR) for the project. “The government will facilitate this request after due consideration,” Karnataka Industries Minister MB Patil said in an official statement. The proposed plant will contribute to sustainable development by promoting green energy production, he added.
Emmvee Energy is a key player in manufacturing essential components for solar power generation, including aluminium frames, glass, EPE, JB Ribbon, and wafers. The proposed plant will look into sustainable development by focusing on green energy production.
The investment is a part of the proposals for which a Memorandum of Understanding (MoU) was signed during the recently concluded Global Investors Meet (GIM) - Invest Karnataka 2025.
Alongside this, German-based beverage and food giant Krones also commenced the establishment of its Rs 315 crore bottling machines manufacturing plant in Vemagal, Kolar district. This manufacturing unit, which will be set up on a 30 acre land, is expected to generate employment for 550 workers. This agreement was also part of the GIM.
Several investments and MoUs were announced during Invest Karnataka 2025, including global firms like Epsilon Group, which committed Rs 15,350 crore over the next decade in developing a manufacturing and research facility for EV battery testing and advanced materials in the state.
Others include American semiconductor manufacturing firm Lam Research which promised an investment of Rs 10,000 crore in the state over the next few years. Volvo also said it would expand its truck and bus production facilities in Hoskote with an additional investment of Rs 1,400 crore.
From Japan, Karnataka saw commitments by 15 companies committing investments and MoUs amounting to Rs 7,500 crore, across sectors including automobile manufacturing, industrial automation, and advanced technology.
Among domestic investments, automaker TVS Motor Company announced an investment of Rs 2,000 crore over the next five years, and a Global Capability Centre (GCC) in the state.