Zodiac Energy Receives Letter of Intent for Solar Power Project in Zambia
Zodiac Energy Ltd has secured a Letter of Intent (LOI) from an international entity based in Zambia for a significant turnkey solar power project. The order involves the development of a Ground Mounted Solar PV Power Plant located in Lusaka, Zambia.The project scope encompasses the comprehensive management of the solar facility, including designing, supplying, installing, testing, commissioning, packing and forwarding, dispatch, and transportation with transit insurance. The delivery is scheduled on a DAP (Delivery on Place) basis.
The solar power system detailed in the LOI includes a 6 MWp DC, 5 MW AC Ground Mounted Solar PV Power Plant, and a 1 MWh Battery Energy Storage System (BESS). Zodiac Energy stated that this international order is expected to strengthen the Company's presence within the renewable energy sector and contribute to the company's revenues over the project execution period.
The aggregate value of the awarded order is US $3,288,000 (US Dollars Three Million Two Hundred Eighty-Eight Thousand Only), which is equivalent to INR ₹30,85,29,808 (Thirty Crore Eighty-Five Lakh Twenty- Nine Thousand Eight Hundred Eight Rupees Only), based on the prevailing exchange rate.
Key commercial and technical details of the order are as follows:
| Particulars | Details |
|---|---|
| Client | International entity based in Zambia |
| Project Nature | Designing, supply, installation, testing, and Commissioning of Ground Mounted Solar PV Power Plant (6 MWp DC, 5 MW AC & 1 MWh BESS) |
| Location | Lusaka, Zambia |
| Order Type | International |
| Value | USD $3,288,000 / INR ₹30,85,29,808 |
| Timeline | Within 9 months (Approximately, subject to LOI terms) |
ZODIAC Stock Price Movement
Zodiac Energy Limited's shares closed higher today, gaining 0.14% to settle at ₹296.53. The stock traded on a volume of 14,813 shares, finding support within the day's range of ₹292 to ₹299.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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