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 Government of Madhya Pradesh’s Renewable Energy Department to invest ₹1,500 crore in a 6 GW solar manufacturing project. This massive initiative aims to set up a state-of-the-art solar manufacturing facility, with a capacity to produce 3 GW modules and 3 GW cells.
The MoU is a testament to the government’s commitment to promoting renewable energy and reducing the country’s reliance on fossil fuels. The investment is expected to create a significant number of jobs and stimulate the local economy.
In addition to the MoU, TGL has received a significant order from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for 6.89 MW of grid-connected solar plants under the Prime Minister’s Kusum (Kisan Urja Solar Umbrella for Solarisation of Agricultural Feeders) scheme. This RESCO (Renewable Energy Services Company) mode project will be implemented across four locations in Rajasthan and will be operational for a period of 25 years.
The project includes operation and maintenance (O&M) services, which will ensure the optimal performance of the solar plants. The RESCO model allows for the privatization of renewable energy projects, enabling private companies to develop and operate solar power plants on behalf of utilities like JVVNL.
The 6.89 MW solar plants will be connected to the grid and will supply clean and renewable energy to the distribution network. This will help reduce the carbon footprint of JVVNL and contribute to the country’s efforts to achieve its renewable energy targets.
The project’s scope includes the design, engineering, procurement, construction, testing, and commissioning of the solar plants. TGL will also be responsible for the O&M services, which will ensure the plants operate at optimal levels and provide reliable power supply to the grid.
The signing of the MoU and the receipt of the order from JVVNL mark a significant milestone for TGL, which is a leading player in the solar energy sector. The company’s expertise and experience in solar manufacturing and project development make it an ideal partner for utility-scale solar projects like this.
The Kusum scheme is a flagship initiative of the Government of India aimed at promoting solar energy in rural areas. The scheme aims to provide a platform for farmers and rural households to generate their own electricity using solar power, reducing their dependence on the grid and improving their energy security.
The scheme also aims to promote the development of solar power projects in rural areas, creating job opportunities and stimulating local economies. The project’s implementation is expected to have a significant impact on the rural economy, improving the quality of life for rural communities and contributing to the country’s overall energy security.
In conclusion, the signing of the MoU and the receipt of the order from JVVNL are significant developments for the solar energy sector. Teerth Gopicon Limited’s investment of ₹1,500 crore in a 6 GW solar manufacturing project will help reduce the country’s reliance on fossil fuels and promote the development of clean and renewable energy.
The 6.89 MW solar plants under the Kusum scheme will provide a reliable source of clean energy to the grid, reducing carbon emissions and contributing to the country’s efforts to achieve its renewable energy targets. The project’s implementation will create job opportunities and stimulate the local economy, making it a significant milestone for the solar energy sector in India.
