Teerth Gopicon signs MoU of ₹1,500 crore & bags order from JVVNL
In a significant development for the renewable energy sector, Teerth Gopicon Limited has signed a Memorandum of Understanding (MoU) with the Renewable Energy Department of Madhya Pradesh to invest ₹1,500 crore in a 6 GW solar manufacturing project. This ambitious project will be spread across three locations and will have a total capacity of 3 GW modules and 3 GW cells.
The MoU signing ceremony was attended by senior officials from the government of Madhya Pradesh and Teerth Gopicon Limited. This deal is expected to give a major boost to the solar manufacturing sector in the country and will help India to reduce its dependence on imports and become self-sufficient in meeting its solar energy requirements.
In addition to the MoU, Teerth Gopicon Limited has also received a significant order from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for 6.89 MW of grid-connected solar plants under the Prime Minister’s Kusum (Kisan Urja) scheme. This RESCO (Renewable Energy Service Company) mode project will be spread across four locations in Rajasthan and will include 25-year operation and maintenance services.
The order from JVVNL is a major milestone for Teerth Gopicon Limited and is expected to help the company to increase its revenue and expand its portfolio of solar projects. The company has been actively working on expanding its presence in the renewable energy sector and has received several orders from various state-owned and private companies in recent months.
The 6.89 MW solar plant ordered by JVVNL will be developed under the PM-KUSUM scheme, which aims to promote the adoption of solar energy in rural areas. The scheme provides financial assistance to farmers and rural households to install rooftop solar systems and connect them to the grid.
The solar plant will be developed on a RESCO mode, which means that Teerth Gopicon Limited will be responsible for the development, operation, and maintenance of the plant for a period of 25 years. This model is gaining popularity in the renewable energy sector as it provides a stable revenue stream to the developers and helps to reduce the financial risks associated with renewable energy projects.
The order from JVVNL is expected to help Teerth Gopicon Limited to increase its order book and revenue. The company has been actively working on expanding its presence in the renewable energy sector and has received several orders from various state-owned and private companies in recent months.
The signing of the MoU with the government of Madhya Pradesh and the order from JVVNL are major milestones for Teerth Gopicon Limited and are expected to help the company to increase its revenue and expand its portfolio of solar projects. The company is well-positioned to benefit from the growing demand for solar energy and is expected to play a significant role in the development of the renewable energy sector in India.
About Teerth Gopicon Limited
Teerth Gopicon Limited is a leading player in the renewable energy sector and has been actively working on expanding its presence in the solar energy segment. The company has a strong track record of developing and operating solar projects and has received several orders from various state-owned and private companies in recent months. With the signing of the MoU with the government of Madhya Pradesh and the order from JVVNL, Teerth Gopicon Limited is well-positioned to continue its growth trajectory and play a significant role in the development of the renewable energy sector in India.
Conclusion
The signing of the MoU with the government of Madhya Pradesh and the order from JVVNL are major milestones for Teerth Gopicon Limited and are expected to help the company to increase its revenue and expand its portfolio of solar projects. The company is well-positioned to benefit from the growing demand for solar energy and is expected to play a significant role in the development of the renewable energy sector in India.
As the world continues to shift towards renewable energy sources, companies like Teerth Gopicon Limited are playing a critical role in helping to reduce our dependence on fossil fuels and mitigate the impact of climate change. With its strong track record of developing and operating solar projects, Teerth Gopicon Limited is well-positioned to continue its growth trajectory and become a major player in the renewable energy sector in India.
