Teerth Gopicon signs MoU of ₹1,500 crore & bags order from JVVNL
In a significant development for the renewable energy sector, Teerth Gopicon Limited (TGL) has signed a Memorandum of Understanding (MoU) with the Government of Madhya Pradesh’s Renewable Energy Department to invest ₹1,500 crore in a 6 GW solar manufacturing project. The project, which involves the setting up of 3 GW modules and 3 GW cells, is expected to be a major boost to the state’s efforts to transition to a low-carbon economy.
As part of the MoU, TGL will invest ₹1,500 crore in the project, which is expected to create employment opportunities for thousands of people and generate significant revenue for the state. The project is expected to be completed within a period of 36 months, and TGL has committed to sourcing 75% of the raw materials locally to support the domestic industry.
In addition to the MoU, TGL has also received an order from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for 6.89 MW of grid-connected solar plants under the PM-KUSUM scheme. The RESCO (Renewable Energy Service Company) mode project, which is spread across four locations in Rajasthan, includes a 25-year operation and maintenance contract.
The PM-KUSUM scheme is a flagship program of the Government of India aimed at promoting solar energy and reducing the dependence on fossil fuels. The scheme provides financial incentives to farmers and other stakeholders to set up solar plants on their lands, which can be used to power their homes, industries, and other businesses.
The order from JVVNL is a significant milestone for TGL, as it marks the company’s entry into the renewable energy sector. The project is expected to reduce carbon emissions by over 9 lakh tonnes per annum and will also help JVVNL to reduce its dependence on fossil fuels.
The signing of the MoU and the receipt of the order from JVVNL are a testament to the company’s commitment to sustainability and its efforts to contribute to the country’s clean energy goals. The project is expected to create a significant impact on the local economy, generating employment opportunities for thousands of people and stimulating economic growth.
TGL’s foray into the renewable energy sector is a significant development for the industry, as it marks the entry of a new player in the market. The company’s expertise in manufacturing solar modules and cells is expected to be a major asset in the development of the project, and its commitment to sourcing raw materials locally is expected to support the domestic industry.
The project is also expected to benefit the local community, as it will provide employment opportunities and stimulate economic growth. The project is expected to create a significant impact on the local economy, generating revenue and stimulating economic growth.
In conclusion, the signing of the MoU and the receipt of the order from JVVNL are significant developments for Teerth Gopicon Limited and the renewable energy sector as a whole. The project is expected to create employment opportunities, stimulate economic growth, and contribute to the country’s clean energy goals. As the company continues to grow and expand its operations, it is expected to play a major role in the development of the renewable energy sector in India.
