Emmvee subsidiary secures KIADB land, plans SPV investment

Emmvee Photovoltaic Power Limited announced on 17 December 2025 that its wholly owned subsidiary, Emmvee Energy Private Limited, has received a possession certificate for 100 acres of land from the Karnataka Industrial Areas Development Board (KIADB). On the same day, the subsidiary also agreed to invest Rs 8.544 crore in a special purpose vehicle for a renewable energy project. The steps are aimed at strengthening backward integration and ensuring access to cost-effective power.

In its first disclosure to the stock exchanges, Emmvee stated that the 100-acre land parcel received by Emmvee Energy Private Limited would support backward integration initiatives. According to the company, this is expected to enhance cost control, improve margin stability, and optimise supply chain management, while reducing exposure to geopolitical risks and enhancing overall competitiveness.

In a separate disclosure on 17 December 2025, Emmvee said its subsidiary has agreed to invest up to Rs 8.544 crore in equity shares of Clean Renewable Energy KK 1C Private Limited. The investment is being made under the Group Captive and Open Access Power Purchase Framework to secure cost-effective renewable energy procurement.

Clean Renewable Energy KK 1C Private Limited is a project special purpose vehicle (SPV) associated with a 175 MW hybrid renewable energy project in Karnataka. The SPV was incorporated on 05 August 2024 and reported no turnover in the financial year 2024 to 2025. The cash consideration of Rs 8.544 crore will result in Emmvee Energy Private Limited acquiring a 14.35 per cent equity stake in the SPV. The company clarified that the transaction does not qualify as a related party transaction and is expected to be completed within one month.

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