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 massive 6 GW solar manufacturing project. The project involves the setting up of a 3 GW module manufacturing facility and a 3 GW cell manufacturing facility.
This ambitious project is expected to create a significant impact on the Indian solar industry, which has been growing rapidly in recent years. With this investment, TGL aims to become a leading player in the solar manufacturing sector, catering to the growing demand for clean energy in the country.
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 Swarozgar Yojana) Scheme. The project is a RESCO (Renewable Energy Service Company) mode project, which means that TGL will be responsible for the design, development, installation, operation, and maintenance of the solar plants over a period of 25 years.
The project will be spread across four locations in Rajasthan, and TGL will provide a comprehensive turnkey solution, including the supply of high-quality solar modules, inverters, and other equipment. The project is expected to generate over 12.5 million units of electricity per year, which will be fed into the grid and will help reduce the carbon footprint of JVVNL.
The KUSUM Scheme is a flagship program of the Government of India, aimed at promoting the growth of the renewable energy sector and reducing the country’s dependence on fossil fuels. The scheme provides financial assistance to farmers and other individuals to set up solar panels on their agricultural lands, which can help them generate additional income and reduce their energy bills.
TGL’s order from JVVNL is a significant milestone in the company’s journey, as it marks its entry into the RESCO mode project space. The company’s expertise in designing, developing, and operating large-scale solar projects will be crucial in ensuring the success of this project, which is expected to set a new benchmark for solar power generation in the country.
The MoU with the Government of Madhya Pradesh’s Renewable Energy Department is also a significant development for TGL, as it provides a platform for the company to showcase its capabilities and expertise in the solar manufacturing sector. The project is expected to create employment opportunities for thousands of people and will contribute to the growth of the local economy.
In a statement, TGL’s management said, “We are thrilled to sign this MoU with the Government of Madhya Pradesh’s Renewable Energy Department and bag an order from JVVNL. This project is a testament to our commitment to promoting the growth of the renewable energy sector in India. We believe that this project will not only create employment opportunities but also contribute to the growth of the local economy.”
The company’s leadership also expressed its gratitude to the Government of Madhya Pradesh and JVVNL for their support and trust in TGL’s capabilities. “We are committed to delivering high-quality solar modules and cells to the domestic market, and we believe that this project will help us achieve our goals. We are confident that our partnership with the Government of Madhya Pradesh and JVVNL will be a successful one and will help us make a significant impact in the solar sector,” the statement added.
In conclusion, Teerth Gopicon Limited’s signing of the MoU with the Government of Madhya Pradesh’s Renewable Energy Department and bagging an order from JVVNL are significant developments for the company and the renewable energy sector as a whole. With its expertise in designing, developing, and operating large-scale solar projects, TGL is well-positioned to make a significant impact in the solar manufacturing sector and contribute to the growth of the local economy.
