Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL
In a significant development for the Indian renewable energy sector, Teerth Gopicon Limited 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 will involve the production of 3 GW of modules and 3 GW of cells. Additionally, the company has received an order from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for the development of 6.89 MW of grid-connected solar plants under the prestigious PM-KUSUM scheme.
The RESCO (Renewable Energy Service Company) mode project will be spread across four locations in Rajasthan and will include 25-year operation and maintenance (O&M) services. This order is a significant milestone for Teerth Gopicon, as it marks the company’s entry into the renewable energy sector and demonstrates its commitment to contributing to the country’s clean energy goals.
The MoU signed with the Government of Madhya Pradesh is a testament to the state’s commitment to promoting renewable energy and reducing its carbon footprint. The project is expected to create employment opportunities and generate significant revenue for the state. The investment of ₹1,500 crore will also boost the local economy and contribute to the growth of the renewable energy sector in the region.
Teerth Gopicon’s entry into the solar manufacturing space is a significant development for the industry. The company’s decision to invest in a 6 GW solar manufacturing project demonstrates its confidence in the growth potential of the sector. The project will enable the company to cater to the growing demand for solar modules and cells in the country, while also reducing the country’s reliance on imports.
The PM-KUSUM scheme, under which Teerth Gopicon has received the order, is a flagship program of the Government of India aimed at promoting the adoption of solar power in the country. The scheme targets to install 27.5 GW of solar power capacity in the country, with a focus on rural electrification and agriculture sectors. The scheme is expected to reduce the country’s carbon footprint and promote sustainable development.
Teerth Gopicon’s order from JVVNL is a significant milestone for the company, as it marks its entry into the renewable energy sector. The company’s ability to secure a large order from a reputable state-owned discom like JVVNL demonstrates its technical capabilities and commercial viability. The order is also a testament to the company’s commitment to delivering high-quality solar power projects and providing reliable O&M services.
The growth of the renewable energy sector in India is driven by the government’s commitment to reduce carbon emissions and promote sustainable development. The sector has seen significant growth in recent years, with the country’s renewable energy capacity increasing from 30 GW in 2014 to over 80 GW today. The sector is expected to continue growing, driven by the government’s ambitious targets to increase the share of renewable energy in the country’s energy mix.
In conclusion, Teerth Gopicon’s signing of the MoU with the Government of Madhya Pradesh and its order from JVVNL under the PM-KUSUM scheme are significant developments for the Indian renewable energy sector. The company’s entry into the solar manufacturing space and its ability to secure a large order from a reputable state-owned discom demonstrate its technical capabilities and commercial viability. The project is expected to create employment opportunities, generate revenue, and contribute to the growth of the renewable energy sector in the region.
