Zodiac Energy experienced a 2 percent decline in morning trading on January 31, with shares quoting at Rs 271.70, down by Rs 5.50 on the BSE. The dip follows the company’s recent announcement of entering into a Power Purchase Agreement (PPA) with Uttar Gujarat VIJ Company Limited (UGVCL).
The PPA, finalized on January 28, 2024, entails Zodiac Energy procuring solar power on a long-term basis for the Feeder level Solarization of 11 KV Agricultural Feeder(s), amounting to a total capacity of 5 MW. This agreement is part of the 26.8 MW capacity allotted to Zodiac Energy Limited by UGVCL.
As of 12:57 pm, Zodiac Energy’s shares continued to trade 2 percent lower at ₹271.70, reflecting the market’s response to the recent power agreement.
