Zodiac Energy trades lower, signs agreement with Gujarat power firm

The order is to be executed in 9 months from the date of the PPA.

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Zodiac Energy traded 2 percent in the morning on January 31 after the company has entered into power purchase agreement with Uttar Gujarat VIJ Company.

Zodiac Energy was quoting at Rs 271.70, down Rs 5.50, or 2 percent, on the BSE.

“…. has entered into Power Purchase Agreement (PPA) on January 28, 2024 with Uttar Gujarat VIJ Company Limited (UGVCL) for procurement of solar power on long term basis for Feeder level Solarization of 11 KV Agricultural Feeder(s)… aggregating 5 MW,” it said.

The 5 MW PPAs are part of total allotted capacity of 26.8 MW by UGVCL to Zodiac Energy Limited.

The order is to be executed in nine months from the date of the PPA.

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The board of directors will meet on February 7 to consider and approve the unaudited financial results for the quarter and nine months ended on December 31, 2023 and other items as may be decided by the board.