### **Overview** Zodiac Energy Ltd., founded in May 1992 as *Zodiac Genset Private Limited*, has evolved over more than three decades into a fully integrated, end-to-end renewable energy EPC (Engineering, Procurement, and Construction) and Independent Power Producer (IPP) company. Headquartered in Ahmedabad, Gujarat, the company transitioned from diesel and gas-based power generation to solar energy in 2012 and now operates as a leading player in India’s renewable energy sector. The company specializes in four key verticals: - Ground-mounted solar - Rooftop solar (residential, commercial, and industrial) - Floating and innovative solar solutions (e.g., solar trees, BIPV) - Independent Power Production (IPP) and energy storage systems Zodiac Energy also offers comprehensive Operation & Maintenance (O&M) services and has expanded into battery energy storage system (BESS) projects, positioning itself at the forefront of emerging clean energy technologies. --- ### **Core Business Segments & Capabilities** #### **1. End-to-End Renewable Energy Solutions** Zodiac Energy provides turnkey EPC services across the entire project lifecycle—from design, engineering, procurement, and installation to commissioning and long-term O&M. It serves a diverse clientele across 15+ Indian states and union territories, including: - Manufacturing - Retail - Real Estate & Construction - Banking & Financial Services - Educational Institutions - NGOs - Government bodies #### **2. Product & Technology Offerings** - **Residential & C&I Rooftop Solar**: Over 7,944 grid-connected systems installed (as of Aug 2024), with more than **33.94 MW** in residential rooftop capacity. - **Ground-Mounted Solar**: Over **11.86 MW** executed in India; strategic focus on scaling this segment due to higher revenue potential. - **Floating Solar**: Commissioned an **800 kW floating solar plant at GSFC Limited, Sikka, Gujarat**, optimizing land use and water conservation. - **Solar Trees**: Commissioned a **15 kW solar tree** (one of the largest in India), highlighting innovation in space-efficient solar design. - **Building-Integrated Photovoltaics (BIPV)**: Developed proprietary *White Solar BIPV technology* via a partnership with Swiss firm **Solaxess**, under the leadership of Managing Director Mr. Kunjbihari Shah. - **Hybrid Projects**: Executed its first hybrid renewable project in Africa, signaling technological diversification. #### **3. Independent Power Producer (IPP) & Open Access** The company has strategically entered the IPP space, developing solar plants to sell power to distribution companies (DISCOMs) and corporate clients under long-term Power Purchase Agreements (PPAs): - **26.5 MW PM-KUSUM solar project** selling power to **UGVCL** (Uttar Gujarat Vij Company Limited). - Plans to establish a **150-crore solar power plant** under PM-KUSUM via an MoU with the Gujarat Government. - Focused selective expansion in IPP mode, prioritizing profitable and bankable projects. #### **4. Battery Energy Storage Systems (BESS)** Actively executing BESS projects to prepare for rising national and global demand for energy storage, aligning with India’s renewable integration goals. --- ### **Financial Performance & Growth (FY25 Highlights)** - **Revenue Growth (YoY): +85.5%** - **EBITDA Growth (YoY): +95.3%** - **Net Profit Growth (YoY): +82.0%** - Completed **55 C&I solar projects** in FY25. - Commissioned a **4 MW ground-mounted solar project in Zambia**, reinforcing export-led EPC strategy. Strong performance attributed to: - Recovery of global supply chains - Declining solar panel prices - High execution efficiency - Robust demand across residential and industrial segments --- ### **Geographic Reach** - **Domestic Presence**: Operations concentrated in **Gujarat and neighboring regions**, with plans to expand via new corporate offices in **Lucknow and Pune**. - **International Expansion**: - Active operations in **Zambia**, Africa. - Completed one C&I project; another under execution. - Targeting the **MENA region** for export-led growth, capitalizing on structural energy gaps. --- ### **Key Projects & Milestones** | Project | Capacity | Location | Description | |-------|--------|---------|-----------| | Honda Rooftop Solar | 5 MW | India | One of the largest rooftop installations for an automobile manufacturer | | Canal-Top Solar | 1 MW | India | Contributed to India’s first canal-top solar project | | Floating Solar Plant | 800 kW | GSFC, Sikka, Gujarat | Pioneering water-body-based solar deployment | | Solar Tree | 15 kW (0.015 MW) | Gujarat | Innovative land-saving solar structure | | PM-KUSUM Project | 26.5 MW | Gujarat | Power sold to UGVCL under PPA | | Zambia Hybrid Project | N/A | Zambia | First international hybrid renewable installation | --- ### **Leadership & Expertise** - **Mr. Kunjbihari Shah (Director & Key Promoter)**: Over **31 years** of experience in power generation; leads EPC, innovation (BIPV), and project execution. Certified BEE Energy Auditor and Renewable Energy Specialist. - **Mrs. Parul Kunjbihari Shah (Whole-Time Director)**: Oversees residential EPC, HR, and administration with over **25 years** of management experience. - Leadership team instrumental in building technical excellence and securing strategic partnerships. --- ### **Order Book & Strategic Pipeline** - **Order Book (Aug 2024)**: Exceeds **50 MW** across rooftop and ground-mounted open-access captive solar projects. - Strong demand driven by: - **PM Surya Ghar Muft Bijli Yojana** (residential segment) - **Captive solar adoption** under open access norms - Government and municipal contracts (e.g., AMC’s 3 MW project worth ₹18.91 crore) --- ### **Corporate & Advisory Services** In addition to EPC and IPP operations, Zodiac Energy offers: - Corporate secretarial and compliance services (including SEBI, RBI, IBC, taxation) - Advisory on partnership structures, LLPs, and employee benefits - Serves primarily IT and IT-enabled service companies - Operates through three offices in **Ahmedabad and Jamnagar** --- ### **Strengths** - Over **30 years** of trust and experience in power solutions - **India’s largest residential rooftop solar installer** (>4,500 projects, >20 MW capacity) - Proven track record: **500+ C&I solar projects**, **>500 MW total solar capacity executed** - Strong management team with deep industry networks - Innovation-driven with BIPV, floating solar, BESS, and hybrid systems - Policy engagement: Member of **National Solar Energy Federation of India (NSEFI)** and **Gujarat Chamber of Commerce & Industry** - Recognition: “Best Project Developer of the Year” (2022), “Best Solar Park Developer of the Year” (2023)