O2 Power Acquires Emmvee Group’s Solar Plant Portfolio of 55 MW

Delhi-based renewable energy producer, O2 Power has announced the acquisition of several solar power plants from Bangalore-based solar modules manufacturer Emmvee Photovoltaic Power.

According to the company, these plants are located in Karnataka and Telangana and have a combined installed capacity of 55MW. A portion of this capacity is used to power state DISCOMs, and the remaining capacity is used to supply captive electricity to Dr. Reddy’s Laboratories.

O2 Power has increased the amount of renewable energy in India by negotiating power purchase agreements totaling 2 GW. It is supported by international investors EQT Infrastructure, based in Sweden, and Temasek Holdings, a company in Singapore. A 250 MW solar project in Jaisalmer, Rajasthan, has also been launched by O2. 

Peeyush Mohit, the Founder, and Chief Operating Officer of O2 Power said about the acquisition, “The Emmvee acquisition symbolizes our debut into Karnataka and Telangana as well as the start of our collaboration with Dr. Reddy’s. We are thrilled about this portfolio and eager to establish a more substantial working relationship with Dr. Reddy. By combining solar, wind, and hybrid projects, we’ll keep trying to strengthen our C&I and utility pipeline.”

To serve commercial and industrial customers, the company has developed a pipeline of around 1.8 GW of renewable energy assets dispersed across off-takers and three major states. Engineering, procurement, and construction (EPC) solutions, solar rooftop solutions, and water heater solutions are just a few of the many turnkey services offered by Emmvee. In addition to 13 MW rooftop and 140+ MW ground-mounted solar projects in India, the company has put into operation solar PV projects with a 14 MW capacity in the northern part of Germany. Emmvee Solar and the Karnataka government signed a memorandum of understanding last October to establish an 825 crore rupee solar module and cell manufacturing facility in Karnataka.

Earlier, O2 Power signed a memorandum of understanding with US-based battery energy storage firm Powin to provide battery storage solutions for the Indian renewable energy market.