Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL
The renewable energy sector has been witnessing significant growth and investment in recent years, driven by the government’s initiatives to reduce carbon footprint and promote sustainable energy sources. In a major development, Teerth Gopicon Limited (TGL) has signed a Memorandum of Understanding (MoU) with the Madhya Pradesh Renewable Energy Department to invest ₹1,500 crore in a 6 GW solar manufacturing project. This ambitious project aims to set up facilities for the production of 3 GW modules and 3 GW cells. Additionally, TGL has secured an order from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for the development of 6.89 MW of grid-connected solar plants under the Pradhan Mantri Kusum Yojana (PM-KUSUM) scheme.
The MoU with the Madhya Pradesh Renewable Energy Department is a significant milestone for TGL, as it marks a major investment in the state’s renewable energy sector. The 6 GW solar manufacturing project is expected to create a significant number of jobs and stimulate economic growth in the region. The project will also contribute to the state’s efforts to reduce its carbon footprint and achieve its renewable energy targets.
The PM-KUSUM scheme, launched by the government, aims to promote the development of solar power in the country by providing incentives to farmers and other stakeholders. Under the scheme, farmers are encouraged to set up solar power plants on their barren lands, and the generated electricity is fed into the grid. The scheme has been successful in promoting the adoption of solar power in rural areas and has helped to reduce the country’s dependence on fossil fuels.
The order from JVVNL is a significant achievement for TGL, as it marks the company’s entry into the solar power generation market. The 6.89 MW grid-connected solar plants will be developed under the RESCO (Renewable Energy Service Company) mode, where TGL will be responsible for the design, development, and operation of the solar plants. The project will be spread across four locations in Rajasthan and will have a 25-year operation and maintenance (O&M) period.
The RESCO mode project is a win-win for both TGL and JVVNL, as it enables the former to gain experience in solar power generation and the latter to secure a reliable source of renewable energy. The project will help to reduce the state’s carbon footprint and promote the adoption of solar power in the region.
Teerth Gopicon Limited has been making significant strides in the renewable energy sector, and this MoU and order are a testament to the company’s commitment to promoting sustainable energy solutions. The company has been working towards creating a robust solar manufacturing ecosystem in the country, and this project will be a significant step towards achieving that goal.
The investment of ₹1,500 crore in the 6 GW solar manufacturing project is a significant vote of confidence in the Indian renewable energy sector. The project will not only create jobs and stimulate economic growth but also contribute to the country’s efforts to reduce its carbon footprint and achieve its renewable energy targets.
In conclusion, the MoU between Teerth Gopicon Limited and the Madhya Pradesh Renewable Energy Department, along with the order from JVVNL, is a significant development in the Indian renewable energy sector. The project will promote the adoption of solar power in the region, create jobs, and stimulate economic growth. As the country continues to move towards a more sustainable energy future, such initiatives will play a crucial role in achieving that goal.
