Zodiac Energy has bagged the tender to develop 30 MW ground-mounted solar projects for Ahmedabad Municipal Corporation (AMC) at the cost of ₹1.54 billion (~$18.33 million) in Gujarat.

The company will design, supply, install, test, and commission grid-tied 30 MW ground-mounted solar projects. The scope of work includes five years of operation and maintenance and a lease/sublease.

The projects are expected to be completed within 18 months.

In September 2024, AMC approved Zodiac Energy’s bid. The tender for the projects was issued in March this year.

The projects are expected to generate 14.20 million units annually and save nearly ₹206 million (~$2.45 million) in electricity costs.

This is the company’s fourth project with AMC. Zodiac has also executed three projects with GIFT City.

In the Q1 FY25 earnings call, the company told the investors that 70% of its revenue comes from government, and commercial and industrial projects, and its distribution business.

As of August 2024, Zodiac Energy has an installed 80 MW solar power project capacity. The company has signed an agreement with the Gujarat government to develop solar projects under the PM KUSUM program at the cost of ₹1.5 billion (~$17.85 million). It also has an order pipeline for more than 50 MW rooftop and ground-mounted open-access captive projects.

In December 2022, AMC invited bids to commission 2 MW of grid-connected rooftop solar systems with remote monitoring systems atop its buildings.

In the same year, AMC issued an expression of interest for the empanelment of project management consultants to conduct feasibility studies, prepare detailed project reports, and consult on various renewable energy projects.

Earlier this year, the Surat Municipal Corporation in Gujarat invited bids to provide, install, and activate a 6.3 MW maximum capacity wind power project, including all associated accessories, power evacuation facilities, and operation and maintenance for up to 10 years.