Bangalore-based solar module manufacturer Emmvee has signed a MoU with Karnataka government to set up an Rs 825 crore solar modules and cells manufacturing plant in the state.
Coming up at Dobaspet, Karnataka, the plant 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 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. Impressed by the state government's encouraging and transparent attitude, he said he planned to invest more in Karnataka.
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.
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( With inputs from ANI )
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