Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL
In a significant development for the renewable energy sector, 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. The project will involve the setting up of two manufacturing units, one for solar modules and the other for solar cells, with a combined capacity of 3 GW for modules and 3 GW for cells.
This massive investment is expected to create a significant ripple effect in the Indian solar industry, boosting the country’s efforts to transition to a low-carbon economy. The project is also expected to generate thousands of jobs and stimulate economic growth in the region.
In addition to the MoU, TGL has also received 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. The RESCO (Renewable Energy Service Company) mode project will be implemented across four locations in Rajasthan, with a 25-year operation and maintenance (O&M) period.
The PM-KUSUM scheme, launched by the Government of India, aims to promote the development of solar power plants in rural areas, reducing the financial burden on farmers and rural households. The scheme also aims to increase the share of renewable energy in the country’s energy mix, reducing greenhouse gas emissions and mitigating climate change.
TGL’s order from JVVNL is a significant milestone for the company, demonstrating its capabilities in developing and operating large-scale solar projects. The company’s expertise in designing, building, and maintaining solar power plants will be crucial in ensuring the successful implementation of the PM-KUSUM scheme.
The solar manufacturing project, with an investment of ₹1,500 crore, is expected to be completed in the next 24-30 months. The project will have a significant impact on the Indian solar industry, providing a boost to the country’s solar manufacturing capacity. The project will also help reduce India’s dependence on imported solar modules and cells, promoting self-sufficiency and reducing the country’s trade deficit.
Teerth Gopicon Limited’s MoU with the Government of Madhya Pradesh is a testament to the company’s commitment to sustainable development and renewable energy. The company’s focus on solar energy has been instrumental in reducing carbon emissions and promoting a cleaner environment.
In conclusion, Teerth Gopicon Limited’s signing of the MoU with the Government of Madhya Pradesh’s Renewable Energy Department and its order from JVVNL for the development of 6.89 MW of grid-connected solar plants under the PM-KUSUM scheme are significant developments for the renewable energy sector. The company’s commitment to sustainable development and renewable energy is expected to have a lasting impact on the Indian solar industry, promoting a cleaner and more sustainable future for the country.
