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. This project will be divided into two parts, with 3 GW modules and 3 GW cells. The MoU was signed with the aim of setting up a solar manufacturing facility in the state, creating employment opportunities and reducing the country’s reliance on imported solar modules.
This MoU is a significant milestone for TGL, which has been working towards establishing itself as a leading player in the renewable energy sector. The company has already made significant progress in the sector, with a strong presence in the solar panel manufacturing space. The new project will further strengthen its position in the market and provide a significant boost to the company’s revenue.
In addition to the MoU, TGL has also received an order from Jaipur Vidyut Vitaran Nigam (JVVNL) for the development of 6.89 MW grid-connected solar plants under the Pradhan Mantri Kusum Yojana (PM-KUSUM) scheme. The project will be developed on a RESCO (Renewable Energy Service Company) mode, with TGL responsible for the design, development, execution, and operation and maintenance of the solar plants.
The project will be spread across four locations in Rajasthan and will have a 25-year operation and maintenance period. This order is a significant win for TGL, as it reinforces the company’s capabilities in the solar sector and demonstrates its commitment to delivering high-quality solar solutions.
The PM-KUSUM scheme is an initiative of the Government of India aimed at promoting the adoption of solar power in the country. The scheme provides financial assistance to farmers and rural households to install solar panels on their agricultural land, reducing their electricity bills and promoting sustainable energy practices.
TGL’s project under the PM-KUSUM scheme is a testament to the company’s expertise in the solar sector and its ability to deliver high-quality solutions that meet the needs of its customers. The project will not only provide clean energy to the rural areas but also create employment opportunities and contribute to the local economy.
Commenting on the development, a spokesperson for TGL said, “We are thrilled to have signed the MoU with the Government of Madhya Pradesh and receive the order from JVVNL. This is a significant milestone for our company, and we are committed to delivering high-quality solar solutions that meet the needs of our customers. We believe that our project will not only contribute to the growth of the renewable energy sector but also promote sustainable energy practices in the country.”
The signing of the MoU and the receipt of the order from JVVNL are significant developments for TGL, and the company is poised to make a significant impact in the renewable energy sector. With its expertise in solar panel manufacturing and its experience in delivering large-scale solar projects, TGL is well-positioned to capitalize on the growing demand for renewable energy in the country.
As the Indian government continues to promote the adoption of renewable energy, companies like TGL are well-positioned to benefit from the growing demand. With its strong presence in the solar sector and its commitment to delivering high-quality solutions, TGL is an attractive option for customers looking for reliable and sustainable energy solutions.
In conclusion, the signing of the MoU between TGL and the Government of Madhya Pradesh and the receipt of the order from JVVNL are significant developments for the company. With its commitment to delivering high-quality solar solutions and its expertise in the solar sector, TGL is well-positioned to make a significant impact in the renewable energy sector.
