Teerth Gopicon Signs MoU of ₹1,500 Crore & Bags Order from JVVNL: A Major Boost to the Indian Solar Industry
The Indian solar industry has been witnessing a surge in growth in recent years, driven by the government’s efforts to promote renewable energy and reduce dependence on fossil fuels. The latest development in this space is the signing of a Memorandum of Understanding (MoU) between Teerth Gopicon Limited and the Government of Madhya Pradesh’s Renewable Energy Department, worth ₹1,500 crore. This massive investment will be used to set up a 6 GW solar manufacturing project, comprising 3 GW modules and 3 GW cells. In addition to this, the company 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 Yojana (PM-KUSUM) scheme.
Teerth Gopicon Limited, a leading solar company in India, has been making significant strides in the Indian solar industry. The company has been actively involved in the development of solar projects, and this latest MoU and order are a testament to its commitment to promoting renewable energy in the country.
The MoU: A Major Investment in Solar Manufacturing
The MoU signed by Teerth Gopicon Limited and the Government of Madhya Pradesh’s Renewable Energy Department is a significant development in the Indian solar industry. The project, worth ₹1,500 crore, will be set up in Madhya Pradesh and will comprise a 6 GW solar manufacturing facility, including 3 GW modules and 3 GW cells. This project will not only create employment opportunities but also help reduce India’s dependence on imported solar equipment.
The project is expected to be completed within a period of three years, and it will be implemented in phases. The first phase will involve the setting up of a 2 GW module manufacturing facility, followed by the establishment of a 2 GW cell manufacturing facility in the second phase. The third phase will involve the setting up of a 2 GW solar panel manufacturing facility.
The Order from JVVNL: A RESCO Mode Project
In addition to the MoU, Teerth Gopicon Limited has also received an order from JVVNL for the development of 6.89 MW of grid-connected solar plants under the PM-KUSUM scheme. The project, which is being implemented in RESCO (Renewable Energy Service Company) mode, will be spread across four locations in Rajasthan.
The project will involve the development of solar plants with a capacity of 1.72 MW each at four different locations. The plants will be designed to operate for a period of 25 years, during which time Teerth Gopicon Limited will be responsible for their operation and maintenance.
Key Highlights of the Project
The project with JVVNL has several key highlights, including:
- Capacity: 6.89 MW
- Location: Four locations in Rajasthan
- RESCO mode: The project will be implemented in RESCO mode, which means that Teerth Gopicon Limited will be responsible for the development, operation, and maintenance of the solar plants for a period of 25 years.
- Operation and Maintenance: Teerth Gopicon Limited will be responsible for the operation and maintenance of the solar plants for a period of 25 years.
- Power Purchase Agreement: The power generated by the solar plants will be purchased by JVVNL under a power purchase agreement.
Impact of the Project
The project with JVVNL is expected to have several positive impacts on the Indian solar industry. Some of the key impacts include:
- Reduction in carbon emissions: The project will help reduce carbon emissions by generating clean and renewable energy.
- Job creation: The project will create employment opportunities in the solar industry.
- Promotion of renewable energy: The project will promote the use of renewable energy in the country and help reduce dependence on fossil fuels.
- Boost to the economy: The project will also help boost the Indian economy by creating employment opportunities and generating revenue.
Conclusion
In conclusion, the signing of the MoU between Teerth Gopicon Limited and the Government of Madhya Pradesh’s Renewable Energy Department, worth ₹1,500 crore, and the receipt of an order from JVVNL for the development of 6.89 MW of grid-connected solar plants under the PM-KUSUM scheme, are significant developments in the Indian solar industry. These projects will help promote the use of renewable energy in the country, reduce carbon emissions, and create employment opportunities.
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