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 6 GW solar manufacturing project. The project, which will be spread across three locations in the state, will have a capacity of 3 GW modules and 3 GW cells.
This massive investment in solar manufacturing is expected to give a significant boost to the renewable energy sector in India, which is already making rapid strides towards achieving its renewable energy targets. The project will also create employment opportunities and contribute to the state’s GDP.
In addition to the MoU, 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 (Kisan Urja) scheme. This 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.
The PM-KUSUM scheme was launched by the Government of India to promote the installation of solar pumps and grid-connected solar plants in rural areas. The scheme aims to provide financial assistance to farmers and rural households to install solar pumps and grid-connected solar plants, thereby reducing their dependence on conventional energy sources and promoting sustainable agriculture practices.
TGL’s order from JVVNL is a significant milestone for the company, which has been expanding its presence in the renewable energy sector. The company has been working towards becoming a leading player in the solar manufacturing and EPC (Engineering, Procurement, and Construction) space, and this order is a testament to its capabilities and credentials.
With this order, TGL has now achieved a total order book of ₹1,300 crore, marking a significant milestone for the company. The company’s order book includes orders from prominent players in the renewable energy sector, including JVVNL, and is expected to drive its growth and expansion plans in the coming quarters.
The MoU with the Government of Madhya Pradesh’s Renewable Energy Department is also a significant development for TGL, as it marks a major step forward in the company’s plans to expand its presence in the solar manufacturing space. The project, which is expected to be completed in the next two years, will be a major boost to the state’s economy and will create employment opportunities for hundreds of people.
In addition to its solar manufacturing project, TGL is also working on several other projects in the renewable energy space. The company has already executed several solar EPC projects in India and is working on several other projects in the pipeline.
In conclusion, TGL’s MoU with the Government of Madhya Pradesh’s Renewable Energy Department and its order from JVVNL are significant developments for the company and the renewable energy sector as a whole. The project will not only give a boost to the state’s economy but will also contribute to the country’s renewable energy targets. As the company continues to expand its presence in the solar manufacturing and EPC space, it is expected to play a major role in India’s transition to a low-carbon economy.
