Teerth Gopicon signs MoU of ₹1,500 crore & bags order from JVVNL
India’s renewable energy sector has been witnessing a surge in recent years, with the government’s initiatives to promote clean energy and reduce carbon footprint. As part of this effort, Teerth Gopicon Limited, a leading solar manufacturing company, has recently 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. This ambitious project aims to set up a comprehensive solar manufacturing facility, comprising 3 GW modules and 3 GW cells.
The MoU is a significant development in the Indian solar sector, as it marks a major investment in the state’s renewable energy infrastructure. The project is expected to create employment opportunities and boost the local economy, while also contributing to the country’s clean energy goals.
In addition to this MoU, Teerth Gopicon 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. This project will be implemented in a RESCO (Renewable Energy Service Company) mode, with a 25-year operation and maintenance period.
The project will be spread across four locations in Rajasthan, including solar plants in Jodhpur, Bikaner, Sri Ganganagar, and Hanumangarh districts. The project is expected to not only reduce the carbon footprint of JVVNL but also contribute to the state’s renewable energy goals.
Teerth Gopicon’s decision to invest in a solar manufacturing facility is a strategic move to capitalize on the growing demand for solar energy in India. The company has identified a gap in the domestic solar manufacturing sector, where domestic production is not able to meet the growing demand for solar panels and cells. By setting up a comprehensive manufacturing facility, Teerth Gopicon aims to bridge this gap and become a major player in the Indian solar market.
The PM-KUSUM scheme, under which this project will be implemented, aims to promote the development of solar plants in rural areas. The scheme provides a platform for farmers, agricultural producers, and other rural households to generate their own electricity and sell the surplus to the grid. This not only reduces the dependence on traditional energy sources but also provides an additional source of income for rural households.
Teerth Gopicon’s success in bagging this order is a testament to the company’s expertise and capabilities in the solar sector. The company has a strong track record of delivering high-quality solar plants and has established itself as a reliable partner for state-owned and private sector companies alike.
In conclusion, Teerth Gopicon’s signing of the MoU with the Government of Madhya Pradesh and bagging of the order from JVVNL are significant developments in the Indian solar sector. The company’s investment in a solar manufacturing facility and its commitment to implementing the PM-KUSUM scheme demonstrate its commitment to promoting clean energy and reducing carbon footprint. As the Indian solar sector continues to grow, Teerth Gopicon’s initiatives are likely to have a profound impact on the industry’s future.
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