Services
GST Registration Online
Teerth Gopicon Limited Secures Solar Rooftop Project Order from SJVN Limited
Team Finance Saathi
28/Dec/2024
What's Covered in the Article:
- Teerth Gopicon Limited awarded order for solar rooftop projects.
- The project involves 5705 kWp grid-connected solar power plants across multiple states.
- Order terms include a 6-month execution timeline under RESCO mode.
Teerth Gopicon Limited, a prominent player in the renewable energy sector, has announced its successful bid for a major solar rooftop power project in collaboration with SJVN Limited. The company has received a Letter of Award (LOA) from SJVN for the implementation of a 5830 kW grid-connected solar rooftop project. This is part of the PM Surya Ghar: Muft Bijli Yojna, which aims to promote clean and sustainable energy across India.
The project involves the setting up of solar rooftops with a total capacity of 5705 kWp on government buildings in several Indian states, including NCT of Delhi, Madhya Pradesh, Uttar Pradesh, Haryana, Gujarat, and Maharashtra. The work will be carried out under the RESCO/PPA mode, in which the developer sets up the project and sells the power to the respective authorities under a Power Purchase Agreement (PPA).
The total capacity of the project highlights Teerth Gopicon’s growing influence in the renewable energy sector, particularly in solar power development. The company will focus on installing rooftop plants with no battery storage as part of the tariff-based competitive bidding process. The successful bid for this significant contract is expected to play a vital role in India’s push towards achieving its renewable energy goals.
In terms of execution, the project must be completed within six months from the effective date of the PPA. This timeline aligns with the government’s push to increase solar power generation and contribute to India's transition to renewable energy sources. Teerth Gopicon’s efficient and timely delivery is expected to meet the requirements of the PM Surya Ghar Yojna, further advancing the country's solar capacity.
The company emphasized that this contract is part of their ongoing commitment to expanding renewable energy solutions and supporting the national effort to reduce carbon emissions. By securing this project, Teerth Gopicon has strengthened its position as a key player in India’s growing solar energy market.
In its disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Teerth Gopicon confirmed that the contract is awarded by a domestic entity and the order does not involve any related party transactions or interests from the promoter group.
This move is an important step towards the company's goal of scaling up its renewable energy projects, contributing significantly to India’s clean energy revolution. As the country continues to focus on solar power generation as a major pillar of its energy infrastructure, Teerth Gopicon is poised to capitalize on the opportunities presented by these large-scale renewable energy initiatives.