KPI Green Books $174 Million Emmvee Order for Gujarat Mega-Project

• KPI Green Energy secures INR 15 billion in high-efficiency modules from Emmvee for a hybrid solar park in Gujarat, advancing India’s clean-power push.

KPI Green Energy has signed one of the year’s largest domestic module supply deals, placing an INR 15-billion (USD 174 million) order with Bengaluru-based manufacturer Emmvee for a new solar-and-hybrid complex in Gujarat. The contract covers several hundred megawatts of high-efficiency panels scheduled for delivery over the next 12 months, setting the pace for a project that will feed both industrial offtakers and India’s power exchanges.

Emmvee will ship its latest TOPCon and mono-PERC modules from the company’s 3-GW facility near Bengaluru International Airport, where a recent capacity expansion has doubled annual output. The manufacturer says the Gujarat order alone will keep two production lines running at full tilt through early 2026. “This agreement affirms the strength of India’s ‘Make-in-India’ solar supply chain,” Emmvee managing director D V Manjunatha said in a statement, adding that the modules will be backed by a 30-year performance warranty.

For KPI Green, the bulk purchase locks in pricing and supply amid volatile wafer and glass costs. The listed developer, which crossed the 1-GW mark in operational and contracted assets earlier this year, plans to integrate the modules into a 500-MW hybrid park combining photovoltaic arrays with wind turbines and a modest battery component. Land acquisition near Bhavnagar is already complete, and early civil works are under way.

Industry analysts view the tie-up as a blueprint for India’s emerging renewable super-clusters: long-term module contracts with domestic makers, hybrid generation profiles to smooth output, and battery add-ons small enough to clear grid-code hurdles yet large enough to capture evening peak prices. “Utility buyers want firm, green power; developers need certainty on equipment,” notes energy consultant Shreya Raghavan. “Deals like this answer both questions at once.”

The timing is strategic. India aims to install 500 GW of non-fossil capacity by 2030, while a production-linked incentive scheme is coaxing module makers to scale quickly. Emmvee’s order book now tops 5 GW, and the firm is weighing a public listing to bankroll further expansion, according to people familiar with the plans.

First shipments to Gujarat are due in September. Full commissioning of the hybrid plant is slated for late 2026, when it will generate enough electricity to power roughly 450,000 homes and offset an estimated 900,000 tonnes of CO₂ each year.