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 will be divided into two parts, with 3 GW dedicated to module manufacturing and the remaining 3 GW focused on cell manufacturing.
This massive undertaking is expected to play a crucial role in meeting the country’s growing demand for solar energy and reducing its reliance on fossil fuels. The project’s module manufacturing capacity will cater to the domestic market, while the cell manufacturing capacity will focus on exporting the products to other countries.
TGL has also received an order from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for the development of 6.89 MW of grid-connected solar plants under the Prime Minister’s Kusum (Kisan Urja Solar Umbrella Scheme) scheme. This RESCO (Renewable Energy Service Company) mode project will be implemented across four locations in Rajasthan and includes a 25-year operation and maintenance period.
The order from JVVNL is a significant milestone for TGL, showcasing the company’s capabilities in developing solar projects and its commitment to contributing to India’s renewable energy goals. The Kusum scheme, launched by the government, aims to promote the development of off-grid solar power plants and also aims to provide financial assistance to farmers and rural households.
The 6.89 MW solar project will benefit the local community in several ways, including the generation of clean energy, reduction in greenhouse gas emissions, and provision of employment opportunities. The project’s operation and maintenance period of 25 years will ensure a stable and consistent supply of solar energy to the grid, making it a reliable source of power.
TGL’s ₹1,500 crore MoU with the Government of Madhya Pradesh’s Renewable Energy Department is also expected to create a significant number of job opportunities in the region, both during the construction and operation phases of the project. The project will require skilled and unskilled laborers, engineers, and other professionals, which will boost the local economy and contribute to the region’s growth.
The solar manufacturing project will also contribute significantly to the country’s efforts to reduce its dependence on imports and promote the growth of the domestic solar industry. India has set ambitious targets to increase its renewable energy capacity to 40% by 2030, and projects like TGL’s will play a crucial role in achieving this goal.
In conclusion, Teerth Gopicon Limited’s ₹1,500 crore MoU with the Government of Madhya Pradesh’s Renewable Energy Department and its order from JVVNL for the development of 6.89 MW of grid-connected solar plants are significant developments in the renewable energy sector. The projects will not only contribute to the country’s renewable energy goals but also create employment opportunities, boost the local economy, and promote the growth of the domestic solar industry.
