Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL
The renewable energy sector in India has been witnessing a significant surge in recent years, with the government’s initiatives to reduce carbon footprint and promote clean energy contributing to the growth. In a major development, 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 crores in a 6 GW solar manufacturing project. The project will involve the manufacturing of 3 GW modules and 3 GW cells. This significant investment will not only create employment opportunities but also contribute to the growth of the renewable energy sector in the country.
Moreover, TGL has also received an order from Jaipur Vidyut Vitaran Nigam (JVVNL) for the development of 6.89 MW of grid-connected solar plants under the Pradhan Mantri Kusum Yojana (PM-KUSUM) scheme. The project, which is being implemented on a RESCO (Renewable Energy Service Company) mode, will be spread across four locations in Rajasthan. The project includes 25-year operation and maintenance (O&M) services, ensuring a steady revenue stream for TGL.
Key Highlights of the MoU
The MoU signed between TGL and the Government of Madhya Pradesh’s Renewable Energy Department is a significant step towards realizing the country’s renewable energy goals. The key highlights of the MoU are as follows:
- Investment of ₹1,500 crores: TGL will invest ₹1,500 crores in the 6 GW solar manufacturing project, making it one of the largest investments in the renewable energy sector in recent times.
- Manufacturing of 3 GW modules and 3 GW cells: The project will involve the manufacturing of 3 GW modules and 3 GW cells, which will be used to generate clean energy and reduce the country’s dependence on fossil fuels.
- Creation of employment opportunities: The project is expected to create employment opportunities for thousands of people, contributing to the growth of the local economy.
- Contribution to renewable energy growth: The project will contribute to the growth of the renewable energy sector in the country, helping to reduce carbon footprint and promote clean energy.
Order from JVVNL
In addition to the MoU, TGL has also received an order from JVVNL for the development of 6.89 MW of grid-connected solar plants under the PM-KUSUM scheme. The project is being implemented on a RESCO mode, which means that TGL will be responsible for the design, development, and maintenance of the solar plants.
The project will be spread across four locations in Rajasthan and includes 25-year O&M services. This ensures a steady revenue stream for TGL, making it an attractive opportunity for the company.
Benefits of the Project
The project has several benefits, including:
- Reduced carbon footprint: The project will help reduce the country’s carbon footprint by generating clean energy and promoting renewable energy sources.
- Employment opportunities: The project is expected to create employment opportunities for thousands of people, contributing to the growth of the local economy.
- Contribution to the growth of the renewable energy sector: The project will contribute to the growth of the renewable energy sector in the country, helping to reduce dependence on fossil fuels and promote clean energy.
Conclusion
In conclusion, the MoU signed between TGL and the Government of Madhya Pradesh’s Renewable Energy Department and the order received from JVVNL are significant developments in the renewable energy sector. The project is expected to create employment opportunities, contribute to the growth of the renewable energy sector, and reduce carbon footprint. As the country moves towards a sustainable future, such projects will play a crucial role in achieving the goal of reducing carbon footprint and promoting clean energy.
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