Teerth Gopicon Signs MoU of ₹1,500 Crore and Bags Order from JVVNL
In a significant development for the solar 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 comprise of 3 GW modules and 3 GW cells. This massive investment will not only boost the country’s renewable energy capacity but also create employment opportunities and stimulate local economic growth.
The MoU was signed in the presence of senior officials from the Madhya Pradesh government and TGL. The project is expected to be commissioned within the next two years and will be operational for 25 years.
TGL 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 Pradhan Mantri Kusum Yojana (PM-KUSUM) scheme. The project will be developed in RESCO (Renewable Energy Service Company) mode and will be spread across four locations in Rajasthan.
The PM-KUSUM scheme is an initiative by the Government of India to promote solar energy and reduce dependence on fossil fuels. The scheme aims to install 10,000 MW of solar power capacity and provide financial assistance to farmers and agricultural pumpset owners to install solar power plants.
TGL’s project under the PM-KUSUM scheme will include the installation of solar power plants at four locations in Rajasthan, with a total capacity of 6.89 MW. The project will be developed in RESCO mode, which means that TGL will be responsible for the design, installation, testing, and commissioning of the solar power plants. The company will also be responsible for the operation and maintenance of the plants for a period of 25 years.
The project will not only generate clean energy but also provide a stable income to farmers and agricultural pumpset owners through the sale of excess energy to the grid. The project will also help reduce carbon emissions and promote sustainable development.
Commenting on the development, a senior official from TGL said, “We are thrilled to have signed the MoU with the Government of Madhya Pradesh and received an order from JVVNL under the PM-KUSUM scheme. This is a significant milestone for our company and demonstrates our commitment to promoting renewable energy and sustainable development.”
TGL’s 6 GW solar manufacturing project will be one of the largest solar manufacturing projects in the country and will help reduce India’s dependence on imports of solar panels and cells. The project will also create employment opportunities and stimulate local economic growth.
In conclusion, Teerth Gopicon Limited’s signing of the MoU with the Government of Madhya Pradesh and receipt of an order from JVVNL under the PM-KUSUM scheme is a significant development for the solar energy sector. The project is expected to promote sustainable development, reduce carbon emissions, and create employment opportunities.
