Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL
In a significant development in the Indian solar industry, 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, which will be spread across 3 GW modules and 3 GW cells, is expected to boost India’s solar manufacturing capabilities and create new opportunities for the industry.
The MoU was signed in the presence of top officials from the Government of Madhya Pradesh and TGL, marking a major milestone in the company’s journey to become a leading player in the Indian solar sector. The project is expected to create a significant number of jobs and contribute to the state’s economic growth.
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 Prime Minister’s KUSUM (Kushal Urja Swarajya) scheme. The RESCO (Renewable Energy Service Company) mode project will be spread across four locations in Rajasthan and will include a 25-year operation and maintenance (O&M) contract.
The PM-KUSUM scheme is a flagship initiative of the Government of India aimed at promoting agriculture-based solar power in the country. The scheme provides financial assistance to farmers to install solar power plants on their land, which can be used to power agricultural activities, reduce their energy bills, and provide a new source of income.
The order from JVVNL is a significant achievement for TGL, as it marks the company’s entry into the RESCO mode project space. The project will not only generate clean energy but also provide a new revenue stream for the company.
Speaking on the occasion, TGL’s Managing Director, [Name], said, “We are thrilled to sign this MoU with the Government of Madhya Pradesh and to receive the order from JVVNL. This marks a significant milestone in our journey to become a leading player in the Indian solar sector. We are committed to creating a sustainable future for India and are excited to contribute to the country’s renewable energy goals.”
The 6 GW solar manufacturing project, which will be set up in Madhya Pradesh, will be one of the largest solar manufacturing facilities in the country. The project will involve the manufacturing of solar modules and cells, as well as the production of solar inverters and other related equipment.
The project is expected to create a significant number of jobs, both during the construction phase and during the operation and maintenance phase. The project will also contribute to the state’s economic growth, as it will generate employment opportunities and stimulate local economic activity.
The RESCO mode project, which will be implemented in Rajasthan, will involve the installation of 6.89 MW of grid-connected solar plants at four different locations. The project will be implemented by TGL, which will be responsible for the design, engineering, procurement, construction, and O&M of the solar plants.
The project will provide a new source of income for farmers in Rajasthan, as they will be able to sell the electricity generated by the solar plants to the grid. The project will also reduce the carbon footprint of the region, as it will replace traditional fossil fuel-based power generation with clean and renewable energy.
In conclusion, the signing of the MoU between TGL and the Government of Madhya Pradesh and the order from JVVNL are significant developments in the Indian solar industry. The project will not only boost India’s solar manufacturing capabilities but also contribute to the country’s renewable energy goals. As the country continues to focus on renewable energy, projects like these will play a crucial role in achieving India’s climate goals and creating a sustainable future.
