Teerth Gopicon Signs MoU of ₹1,500 Crore and Bags Order from JVVNL
In a major development in the Indian solar industry, Teerth Gopicon Limited (TGL) has signed a Memorandum of Understanding (MoU) with the Madhya Pradesh 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 production facility and a 3 GW solar cell manufacturing facility in the state. The MoU was signed in the presence of senior officials from the state government and TGL.
The 6 GW solar manufacturing project is expected to be one of the largest solar manufacturing facilities in the country, making it a significant step towards India’s goal of becoming a global leader in the solar energy sector. The project will not only create employment opportunities but also contribute to the state’s economic growth.
In addition to the MoU, TGL 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 (Renewable Energy Service Company) mode project will be implemented across four locations in Rajasthan and will entail a 25-year operation and maintenance (O&M) period.
The PM-KUSUM scheme, launched by the government, aims to promote the installation of solar pumps in agriculture, besides promoting solar power generation. The scheme is expected to benefit farmers and rural households, providing them with a new source of income and promoting sustainable energy practices.
The order from JVVNL is a significant milestone for TGL, as it marks its entry into the RESCO mode project space. The company’s expertise in solar manufacturing and O&M will be utilized to ensure the successful implementation of the project.
The 6.89 MW solar plant project is expected to generate 12.67 million units of electricity per annum, which will be fed into the grid. The project will also reduce greenhouse gas emissions by 12,670 tons per annum, contributing to a cleaner and more sustainable environment.
Teerth Gopicon Limited, a leading player in the solar industry, has been involved in various solar projects in the past, including the development of solar parks, solar power plants, and solar rooftop systems. The company’s expertise in solar manufacturing, O&M, and project development makes it an ideal partner for large-scale solar projects.
The signing of the MoU and the order from JVVNL are significant developments for the Indian solar industry, showcasing the growth potential of the sector. The government’s initiatives, such as the PM-KUSUM scheme, are expected to drive the adoption of solar energy, creating new opportunities for solar companies like Teerth Gopicon Limited.
In conclusion, the signing of the MoU and the order from JVVNL are significant milestones for Teerth Gopicon Limited, marking its entry into the RESCO mode project space and cementing its position as a leading player in the Indian solar industry. The company’s investment of ₹1,500 crore in the 6 GW solar manufacturing project will create new employment opportunities and contribute to the state’s economic growth.
