Teerth Gopicon signs MoU of ₹1,500 crore & bags order from JVVNL
In a significant development for the solar energy sector, Teerth Gopicon Limited (TGL) has signed a Memorandum of Understanding (MoU) with the Renewable Energy Department of Madhya Pradesh to invest ₹1,500 crore in a 6 GW solar manufacturing project. The project will consist of 3 GW modules and 3 GW cells. This massive investment is expected to boost the production of solar panels and cells in the state, contributing to the country’s renewable energy goals.
In addition to the MoU, TGL has also received an order from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for 6.89 MW of grid-connected solar plants under the Pradhan Mantri Kusum Yojana (PM-KUSUM) scheme. This RESCO (Renewable Energy Services Company) mode project will be spread across four locations in Rajasthan and will include a 25-year operation and maintenance period.
The PM-KUSUM scheme was launched by the Government of India to promote the development of solar power in rural areas. The scheme aims to provide financial assistance to farmers and rural households to install solar power plants on their agricultural land or rooftops. The scheme also encourages the development of solar power plants in rural areas to provide power to agricultural pumps, streetlights, and other rural infrastructure.
The order from JVVNL is a significant milestone for TGL, as it marks the company’s entry into the RESCO mode project space. The project is expected to generate significant revenue for TGL, both through the sale of electricity to JVVNL and through the operation and maintenance of the solar plants.
The MoU with the Renewable Energy Department of Madhya Pradesh is also a significant development for TGL, as it provides the company with a platform to invest in a large-scale solar manufacturing project. The project is expected to create employment opportunities and contribute to the growth of the local economy.
Teerth Gopicon Limited is a leading solar energy company in India, with a strong presence in the solar panel manufacturing space. The company has been actively involved in the development of solar power projects across the country and has a strong track record of delivering high-quality projects on time and within budget.
The company’s entry into the RESCO mode project space is a significant development, as it marks the company’s entry into the agricultural sector. The project is expected to provide power to agricultural pumps, streetlights, and other rural infrastructure, contributing to the growth of the rural economy.
The MoU with the Renewable Energy Department of Madhya Pradesh is also a significant development, as it provides the company with a platform to invest in a large-scale solar manufacturing project. The project is expected to create employment opportunities and contribute to the growth of the local economy.
The order from JVVNL is also a significant development, as it marks the company’s entry into the state’s solar power market. The project is expected to generate significant revenue for TGL, both through the sale of electricity to JVVNL and through the operation and maintenance of the solar plants.
In conclusion, the signing of the MoU with the Renewable Energy Department of Madhya Pradesh and the order from JVVNL are significant developments for Teerth Gopicon Limited. The company’s entry into the RESCO mode project space and the solar manufacturing space is expected to boost the production of solar panels and cells in the state, contributing to the country’s renewable energy goals.
The project is expected to create employment opportunities and contribute to the growth of the local economy. The company’s entry into the agricultural sector is also expected to provide power to agricultural pumps, streetlights, and other rural infrastructure, contributing to the growth of the rural economy.
Overall, the developments are a significant milestone for Teerth Gopicon Limited, and the company is expected to play a key role in the growth of the solar energy sector in India.
