Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL
Teerth Gopicon Limited, a leading solar manufacturing company, has signed a Memorandum of Understanding (MoU) with the Government of Madhya Pradesh’s Renewable Energy Department to invest ₹1,500 crore in a massive 6 GW solar manufacturing project. The project will involve the setting up of a 3 GW module manufacturing facility and a 3 GW solar cell manufacturing unit. This MoU marks a significant milestone in the company’s growth journey, solidifying its position as a key player in the Indian solar sector.
Under the terms of the MoU, Teerth Gopicon will establish a state-of-the-art manufacturing facility in Madhya Pradesh, creating thousands of jobs and contributing to the state’s economic growth. The project is expected to have a significant impact on the local economy, driving growth and development in the region.
In addition to the MoU, Teerth Gopicon has also bagged an 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. This RESCO (Rooftop Solar and Canal Bank Solar) mode project will be implemented across four locations in Rajasthan, covering an area of over 100 acres. The project’s scope includes the design, supply, installation, testing, and commissioning of the solar plants, as well as a 25-year operation and maintenance (O&M) contract.
The PM-KUSUM scheme is a flagship program launched by the Government of India to promote the adoption of solar energy for irrigation and other non-potable purposes. The scheme aims to promote the use of solar power for agriculture, industry, and other sectors, reducing the dependence on fossil fuels and mitigating climate change.
Teerth Gopicon’s order from JVVNL is a significant milestone for the company, marking its entry into the RESCO market. The company has extensive experience in the design, installation, and O&M of solar plants, and this order demonstrates its capabilities in delivering large-scale solar projects.
“We are thrilled to have signed the MoU with the Government of Madhya Pradesh and to have received the order from JVVNL,” said [Name], CEO of Teerth Gopicon Limited. “This is a significant milestone for our company, and we are committed to delivering high-quality solar solutions to our customers. We believe that this project will not only contribute to the growth of the solar industry but also drive economic development in the region.”
Teerth Gopicon’s 6 GW solar manufacturing project is expected to be completed in phases, with the first phase involving the setting up of a 1.5 GW module manufacturing facility. The project is expected to create over 5,000 jobs during the construction phase and over 1,000 jobs during the operational phase.
The company’s entry into the RESCO market with the JVVNL order is a significant development, marking its entry into the rooftop solar segment. The company’s expertise in O&M and its experience in delivering large-scale solar projects make it well-positioned to capitalize on the growing demand for rooftop solar solutions.
In conclusion, Teerth Gopicon’s MoU with the Government of Madhya Pradesh and its order from JVVNL are significant developments in the company’s growth journey. The company’s commitment to delivering high-quality solar solutions and its expertise in O&M make it well-positioned to capitalize on the growing demand for solar energy in India.
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