Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL
The Indian renewable energy sector has been witnessing a surge in growth, driven by the government’s initiatives to increase the country’s clean energy capacity. In a recent development, 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 massive project involves setting up facilities to produce 3 GW of solar modules and 3 GW of solar cells.
The MoU aims to promote the growth of the renewable energy sector in Madhya Pradesh and create employment opportunities for the local population. The project is expected to be completed within the next 3-4 years and will be implemented in multiple phases.
In addition to this ambitious project, 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 Kisan Urja Yojana (PM-KUSUM) scheme. This RESCO (Renewable Energy Service Company) mode project will be executed across four locations in Rajasthan and includes 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 the adoption of solar energy in rural areas. The scheme provides financial assistance to farmers and other rural households to install solar plants and reduce their dependence on grid electricity.
The order from JVVNL is a significant milestone for TGL, as it marks the company’s entry into the RESCO mode project segment. The company’s experience in designing, developing, and operating solar power plants will be crucial in delivering a successful project that meets the expectations of the client.
TGL’s MoU with the Government of Madhya Pradesh and the order from JVVNL demonstrate the company’s commitment to the growth of the renewable energy sector in India. The company’s solar manufacturing project is expected to contribute significantly to the country’s clean energy goals and create a new era of sustainable development.
The Government of Madhya Pradesh’s Renewable Energy Department has taken a proactive approach to promote the growth of the renewable energy sector in the state. The department’s efforts to attract investments in the sector have yielded positive results, with TGL’s MoU being a testament to the state’s business-friendly environment.
In conclusion, Teerth Gopicon Limited’s MoU with the Government of Madhya Pradesh and the order from JVVNL are significant developments in the Indian renewable energy sector. These projects will not only contribute to the country’s clean energy goals but also create employment opportunities and promote economic growth.
