Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL: A Significant Boost for the Solar Industry
The Indian solar industry has been witnessing significant growth in recent years, driven by the government’s initiatives to promote renewable energy and reduce carbon emissions. In a latest development, Teerth Gopicon Limited, a leading solar 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 6 GW solar manufacturing project. This project will involve the setting up of a 3 GW module manufacturing facility and a 3 GW cell manufacturing facility in the state. In addition to this, the company 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 PM-KUSUM scheme.
The MoU signed between Teerth Gopicon and the Government of Madhya Pradesh is a significant development for the solar industry in the state. The project, which is expected to be completed in the next three years, will create a huge manufacturing capacity for solar modules and cells, making India self-sufficient in meeting its solar energy requirements. The project will also generate employment opportunities for thousands of people and contribute to the state’s economic growth.
The PM-KUSUM scheme, under which JVVNL has placed the order with Teerth Gopicon, is a flagship program of the Central Government aimed at promoting the adoption of solar energy in the country. The scheme provides financial assistance to farmers and agricultural pumpset owners to install solar power plants and reduce their dependence on diesel generators. The 6.89 MW project, which will be developed in four locations in Rajasthan, is expected to generate 12.3 million units of electricity per year, reducing carbon emissions and dependence on fossil fuels.
Teerth Gopicon’s order book has now swelled to ₹1,300 crore, thanks to the MoU and the JVVNL order. The company has been expanding its presence in the solar industry, with a focus on manufacturing and development of solar power projects. With this order, the company has further solidified its position as a leading player in the industry.
The solar industry has been growing at a rapid pace in recent years, driven by the government’s initiatives to promote renewable energy. The industry has seen significant investments from both domestic and international players, with many companies setting up manufacturing facilities in India. The country has set a target of achieving 40 GW of solar power generation capacity by 2025, and the industry is expected to play a crucial role in achieving this target.
The development of the solar industry is also expected to create a huge demand for skilled workforce, including engineers, technicians, and other professionals. The industry is expected to create job opportunities in manufacturing, installation, and operation and maintenance of solar power plants. With the increasing adoption of solar energy, the industry is expected to become a significant contributor to India’s economic growth.
In conclusion, the signing of the MoU between Teerth Gopicon and the Government of Madhya Pradesh and the order from JVVNL are significant developments for the solar industry in India. The project will create a huge manufacturing capacity for solar modules and cells, generate employment opportunities, and contribute to the state’s economic growth. The PM-KUSUM scheme, under which the order was placed, is a flagship program aimed at promoting the adoption of solar energy in the country. With this order, Teerth Gopicon has further solidified its position as a leading player in the industry, and the company is expected to play a crucial role in achieving India’s solar power generation targets.
