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 (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. This project will comprise 3 GW modules and 3 GW cells, making it one of the largest solar manufacturing projects in the country. Alongside this, 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 (PM-KUSUM) scheme.
The RESCO (Renewable Energy Service Company) mode project will be spread across four locations in Rajasthan and will include a 25-year operation and maintenance (O&M) period. This partnership is expected to boost the growth of the renewable energy sector in Madhya Pradesh and Rajasthan, while also contributing to the country’s overall clean energy ambitions.
Teerth Gopicon’s solar manufacturing project is expected to create significant employment opportunities and stimulate local economic growth. The company plans to manufacture high-efficiency solar modules and cells, which will be used to power residential, commercial, and industrial establishments. The project is expected to reduce the country’s dependence on imported solar panels and contribute to the government’s mission of becoming energy-independent.
The PM-KUSUM scheme, under which TGL has received the order, aims to promote decentralized solar power generation and improve the energy security of rural India. The scheme provides financial incentives to farmers, agricultural pumps, and other rural consumers to install grid-connected solar plants and reduce their dependence on the grid. The scheme is expected to reduce the country’s peak power demand and reduce greenhouse gas emissions.
Teerth Gopicon’s order from JVVNL is a significant milestone for the company, as it marks its entry into the RESCO mode project space. The company’s expertise in solar power development and operation will be utilized to ensure the smooth operation of the project and maximize its returns. The project is expected to generate significant revenue for the company and contribute to its growth and expansion plans.
In recent years, the Indian solar industry has witnessed significant growth, driven by declining solar panel costs, increasing government support, and growing demand for clean energy. The industry has attracted significant investment from both domestic and international investors, and has created thousands of jobs in the country.
Teerth Gopicon’s MoU with the Government of Madhya Pradesh and its order from JVVNL are significant developments in the Indian renewable energy sector. The company’s investment in solar manufacturing and its entry into the RESCO mode project space demonstrate its commitment to promoting clean energy in the country. As the company continues to grow and expand, it is expected to play a significant role in India’s transition to a low-carbon economy.
About the Author:
The author is a content writer with expertise in writing about renewable energy, sustainability, and corporate news. She has a strong understanding of the Indian renewable energy sector and has written extensively on topics related to solar power, wind energy, and energy storage.
