Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL
In a significant development in the Indian 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. This ambitious project aims to set up a 3 GW module and 3 GW cell manufacturing facility in the state. Alongside this MoU, TGL has also received a significant order from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for the development of 6.89 MW of grid-connected solar plants under the Pradhan Mantri Kusum Yojana (PM-KUSUM) scheme.
The RESCO (Renewable Energy Service Company) mode project, worth ₹1300 crore, will be implemented across four locations in Rajasthan, with a 25-year operation and maintenance (O&M) period. This project is expected to play a crucial role in promoting the adoption of renewable energy sources in the country, reducing greenhouse gas emissions, and meeting the government’s ambitious targets for clean energy.
The MoU signed between TGL and the Government of Madhya Pradesh is expected to create a significant number of jobs in the state, stimulate economic growth, and contribute to the development of the renewable energy sector. The project will also help reduce the country’s dependence on fossil fuels, decrease carbon emissions, and improve energy security.
Teerth Gopicon Limited, a leading player in the solar industry, has been actively involved in the development and implementation of renewable energy projects across the country. The company has a strong track record of executing large-scale solar projects, and this MoU with the Government of Madhya Pradesh is a significant milestone in its journey.
The PM-KUSUM scheme, launched by the government, aims to promote the adoption of solar energy in agriculture and rural areas. The scheme provides financial assistance to farmers and rural households to install solar pumps and solar power plants. The scheme also encourages the development of solar power plants in the country, leading to a significant increase in the adoption of renewable energy sources.
Teerth Gopicon Limited’s order from JVVNL is a testament to the company’s expertise and capabilities in the development and implementation of renewable energy projects. The company has a strong track record of delivering high-quality projects on time and within budget, and this order is expected to contribute significantly to its growth and expansion plans.
The development of renewable energy sources is a critical component of the government’s efforts to reduce greenhouse gas emissions and meet its commitment under the Paris Agreement. The Indian government has set a target of achieving 40% of its energy requirements from non-fossil fuels by 2030, and the development of renewable energy projects like this one is expected to play a crucial role in achieving this target.
In conclusion, Teerth Gopicon Limited’s MoU with the Government of Madhya Pradesh and order from JVVNL are significant developments in the Indian renewable energy sector. The project is expected to create jobs, stimulate economic growth, and contribute to the development of the renewable energy sector. As the country continues to prioritize the adoption of clean energy sources, projects like this one will play a crucial role in promoting sustainable development and reducing greenhouse gas emissions.
