IPO-bound Emmvee wins Rs 1,500-crore solar module order from KPI Green

Bengaluru-based solar module maker Emmvee has secured an order worth nearly Rs 1,500 crore from KPI Green Energy to supply high-efficiency TopCon bifacial solar modules for an upcoming solar project in Gujarat. The modules will be manufactured at Emmvee’s plants in Dabaspet and Sulibele, Karnataka, and delivered during FY25–26, the company said on Tuesday.

Moneycontrol reported on May 28 that Emmvee is planning to make a public markets debut through an initial public offering that could see the company raise around Rs 2,500-3,000 crore for capacity expansion.

The order marks another milestone in Emmvee’s ongoing partnership with KPI Green, part of the KP Group, which began in 2021, Emmvee said in a statement. The deal is expected to strengthen Emmvee’s position as a key player in India’s solar manufacturing ecosystem and support the country’s broader clean energy transition, the statement added.

“This new order underscores our commitment to quality, strong execution, and long-standing partnerships in the sector,” said Manjunatha D.V., Founder and Managing Director of Emmvee.