Teerth Gopicon Signs MoU of ₹1,500 Crore and Bags Order from JVVNL
In a significant development in 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 6 GW solar manufacturing project. The project will involve the production of 3 GW modules and 3 GW solar cells. This massive investment is expected to boost the country’s solar energy production and reduce its dependence on foreign imports.
The MoU was signed in the presence of senior officials from the Government of Madhya Pradesh and Teerth Gopicon Limited. The project is expected to create employment opportunities for thousands of people and contribute significantly to the state’s economy.
In addition to the MoU, Teerth Gopicon Limited 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 (Kisan Urja) Scheme (PM-KUSUM). The project, which is being implemented on a RESCO (Renewable Energy Service Company) model, will be spread across four locations in Rajasthan.
The PM-KUSUM scheme is an initiative of the Government of India to promote the adoption of solar energy in the country. The scheme aims to provide financial assistance to farmers and rural households to install solar pumps and grid-connected solar plants. The scheme also aims to create employment opportunities in the rural sector and promote the use of renewable energy.
The RESCO model project, which is being implemented by Teerth Gopicon Limited, will include a 25-year operation and maintenance (O&M) period. The project is expected to generate significant revenue for the company and contribute to the country’s efforts to reduce its carbon footprint.
The signing of the MoU and the receipt of the order from JVVNL are significant milestones for Teerth Gopicon Limited, which has been actively involved in the renewable energy sector for several years. The company has been working on various solar energy projects across the country and has established itself as a leading player in the sector.
The investment of ₹1,500 crore in the solar manufacturing project is expected to give a significant boost to the company’s growth prospects. The project will enable the company to increase its production capacity and meet the growing demand for solar energy in the country.
The PM-KUSUM scheme, under which the order from JVVNL has been received, is an important initiative of the Government of India to promote the adoption of solar energy. The scheme aims to create a robust solar energy ecosystem in the country and promote the use of renewable energy.
The order from JVVNL is a testament to the company’s expertise in the solar energy sector and its ability to deliver high-quality projects on time. The project is expected to generate significant revenue for the company and contribute to the country’s efforts to reduce its carbon footprint.
In conclusion, the signing of the MoU and the receipt of the order from JVVNL are significant milestones for Teerth Gopicon Limited. The company’s commitment to investing ₹1,500 crore in a solar manufacturing project and its ability to deliver high-quality projects on time are expected to give a significant boost to its growth prospects.
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