Teerth Gopicon signs MoU of ₹1,500 crore & bags order from JVVNL
India’s renewable energy sector has been witnessing significant growth in recent years, driven by the government’s ambitious target of achieving 40% of its total energy generation from non-fossil fuels by 2030. 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 crore in a 6 GW solar manufacturing project. This project will be spread across three locations in the state, with an investment of ₹250 crore per location. The project will produce 3 GW of solar modules and 3 GW of solar cells.
As part of the MoU, TGL will set up a 6 GW solar manufacturing facility that will cater to the growing demand for solar energy in the country. The project is expected to create employment opportunities for thousands of people and will also contribute to the state’s economic growth. The project will be implemented in two phases, with the first phase scheduled to be completed by 2025.
In addition to the MoU with the Government of Madhya Pradesh, TGL has also received an 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 Suraksha evam Utthaan Mahabhiyan) scheme. The project, which is valued at ₹130 crore, will be implemented through the RESCO (Renewable Energy Services Company) mode.
The project, which is spread across four locations in Rajasthan, includes 25-year operation and maintenance (O&M) services. The project will be implemented in two phases, with the first phase scheduled to be completed by 2024. The project will generate 17.44 million units of electricity per annum, which will be fed into the grid.
The KUSUM scheme is an ambitious initiative by the Government of India to promote the use of solar energy in rural areas. The scheme aims to provide financial support to farmers to install solar panels on their agricultural land and sell the excess electricity to the grid. The scheme also aims to promote the use of solar pumps for irrigation, which will reduce the dependence on fossil fuels and help to conserve water.
TGL is a leading player in the renewable energy sector, with a focus on solar energy. The company has a strong track record of implementing large-scale solar projects and has received numerous awards and recognitions for its innovative approach to solar energy. The company’s expertise in solar energy has earned it a reputation as a reliable and efficient player in the sector.
The MoU with the Government of Madhya Pradesh and the order from JVVNL are significant milestones for TGL, demonstrating the company’s commitment to the growth of the renewable energy sector in the country. The company’s investment of ₹1,500 crore in the 6 GW solar manufacturing project will not only create employment opportunities but also contribute to the state’s economic growth.
The company’s approach to solar energy is focused on sustainability, innovation, and customer satisfaction. TGL’s solar modules and cells are designed to meet the highest standards of quality and performance, and the company’s O&M services ensure that the projects are implemented efficiently and effectively.
In conclusion, the signing of the MoU with the Government of Madhya Pradesh and the order from JVVNL are significant developments for Teerth Gopicon Limited, demonstrating the company’s commitment to the growth of the renewable energy sector in the country. The company’s investment of ₹1,500 crore in the 6 GW solar manufacturing project will create employment opportunities, contribute to the state’s economic growth, and help to achieve the government’s ambitious target of achieving 40% of its total energy generation from non-fossil fuels by 2030.
