Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL
In a significant development for the Indian solar 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 will entail the setting up of a 3 GW module manufacturing unit and a 3 GW cell manufacturing unit. This massive investment is expected to give a significant boost to India’s solar energy production and help the country achieve its renewable energy targets.
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 will be spread across four locations in Rajasthan and will include a 25-year operation and maintenance (O&M) period.
The PM-KUSUM scheme, launched by the Government of India, aims to promote solar energy generation by agriculture farmers and rural areas. Under this scheme, farmers and rural areas are encouraged to install solar power plants and sell the excess electricity to the grid. The scheme provides a window for individuals and institutions to invest in solar energy and benefit from the government’s incentives.
Teerth Gopicon Limited’s 6.89 MW solar plant project will be a significant addition to the country’s renewable energy infrastructure. The project will not only generate clean energy but also create employment opportunities and stimulate local economic growth.
The MoU signed between TGL and the Government of Madhya Pradesh’s Renewable Energy Department is a testament to the government’s commitment to promoting renewable energy and reducing the country’s dependence on fossil fuels. The project is expected to create a significant impact on the state’s energy landscape and help reduce carbon emissions.
Teerth Gopicon Limited’s foray into the solar manufacturing sector is also a significant development. The company’s decision to invest ₹1,500 crore in a 6 GW solar manufacturing project is a vote of confidence in the country’s solar sector. The project will not only create jobs but also reduce the country’s reliance on imported solar modules and cells.
The solar manufacturing industry is growing rapidly in India, driven by the government’s policies and initiatives to promote renewable energy. The country’s solar manufacturing capacity is expected to increase significantly in the coming years, driven by the demand for solar modules and cells.
Teerth Gopicon Limited’s order from JVVNL is also a significant development for the company. The order demonstrates the company’s capabilities in solar energy generation and its ability to execute large-scale projects. The order is also a testament to the company’s commitment to providing clean and sustainable energy solutions to its customers.
In conclusion, Teerth Gopicon Limited’s signing of the MoU with the Government of Madhya Pradesh’s Renewable Energy Department and its order from JVVNL are significant developments for the Indian solar sector. The project will not only create jobs and stimulate local economic growth but also help reduce carbon emissions and promote renewable energy. The company’s foray into the solar manufacturing sector is also a significant development, and we can expect to see more such announcements in the coming years.
