Zodiac Energy Ltd has signed an MoU with Gujarat government to invest Rs 3,000 crore in solar energy sector over the next five years. It plans to build a 250MW captive solar power plant, 400MW solar power plants, and 100MW solar power plants to supply solar electricity to industries.
Zodiac Energy Limited’s chairman Kunj Shah said that” Zodiac Energy Limited has decided to invest in tune of Rs. 3000.00 Crores in the state of Gujarat to carry out following work.
- To construct solar power plants of the capacity of the 400 MW under PM-KUSUM-C for supply of solar electricity to state DISCOMs in next 3 year at the approximate Investment of INR 1600.00 Crores.
- To construct solar power plants of the capacity of the 100 MW as an IPP to supply solar electricity to industries and other commercial users for their captive requirements at an approximate Investment of INR 400.00 Crores.
- To construct captive solar power plant for residential, industrial and commercial entities under Gujarat RE policy 2023 of the capacity of 250 MW at an approximate investment of INR 1000.00 Crore.
The total investment combining all three above shall be INR 3000.00 Crore over the next 5 years. Also, with employment of 3-4 persons per MW in Construction & O&M for the project, the proposed investment will generate employment opportunities in rural area for approximately 3000 persons for next 25 years.
Zodiac Energy Limited express the interest to bring Investment of INR 3000.00 Crore in the state of Gujarat over the next 5 years to set up the solar power plants for various users as stated above and interested to sign non-binding MOU for investment of INR 3000.00 Crore with Govt. of Gujarat in
Vibrant Gujarat Investment summit 2024.
Gujarat is poised to witness the explosive growth in renewable energy sector in view of recent announcement of RE Policy 2023 by Gujarat Govt. for accelerating the deployment of renewable energy
generation in state with very progressive outlook and many benefits to industry for using renewable energy.
The Govt. of Gujarat have ambitious plan to install feeder level solar power plants across the state under PM-KUSUM-C in order to helpthe farmers of the state to get the daytime energy for agriculture use
and to reduce burden of farm electricity subsidy. The various industries in Gujarat, in order to reduce carbon footprint as well as to reduce the electricity cost, adopting solar power in the
big way.
Zodiac Energy Limited is 1992 established, Ahmedabad, Gujarat based BSE and NSE Listed corporate engaged in Renewable Energy Sector. It is one of the leading corporate engaged in solar energy sector.
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