Teerth Gopicon Signs MoU of ₹1,500 Crore and Bags Order from JVVNL
In a significant development in 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. Additionally, the company has received a significant order from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for 6.89 MW of grid-connected solar plants under the Pradhan Mantri Kusum Yojana (PM-KUSUM) scheme.
The 6 GW solar manufacturing project, spread across three modules and three cells, aims to cater to the growing demand for solar energy in the country. The project is expected to create a significant number of employment opportunities and contribute to the local economy. The investment of ₹1,500 crore will be made in the next five years, with the company planning to set up manufacturing units in Madhya Pradesh.
The MoU was signed by Mr. Rakesh Agarwal, Managing Director, Teerth Gopicon Limited, and Mr. Rajendra Shukla, Minister of Renewable Energy, Government of Madhya Pradesh. The signing of the MoU was a significant milestone in the company’s journey to become a major player in the solar manufacturing sector.
The company’s order from JVVNL is a testament to its capabilities and expertise in the solar sector. The 6.89 MW project will be developed under the RESCO (Renewable Energy Service Company) mode, with TGL responsible for the design, development, and operation of the solar plants. The project will be spread across four locations in Rajasthan and will include a 25-year operation and maintenance (O&M) contract.
The PM-KUSUM scheme is an initiative by the Government of India to promote the use of solar energy in agriculture and rural areas. The scheme aims to provide grid-connected solar plants to farmers and rural areas, reducing their dependence on diesel generators and promoting renewable energy.
TGL’s order from JVVNL is a significant development in the company’s journey, and it is expected to contribute to the growth of the company’s revenue. The company has an order book of ₹1,300 crore, which is expected to drive its growth in the coming years.
In a statement, Mr. Rakesh Agarwal, Managing Director, Teerth Gopicon Limited, said, “We are thrilled to sign the MoU with the Government of Madhya Pradesh and bag the order from JVVNL. This is a significant milestone in our journey to become a major player in the solar manufacturing sector. We are committed to contributing to the growth of the renewable energy sector and creating employment opportunities in the region.”
The signing of the MoU and the order from JVVNL are significant developments in the renewable energy sector, and they demonstrate the company’s capabilities and expertise in the solar sector. The project is expected to have a significant impact on the local economy and contribute to the growth of the renewable energy sector in the country.
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