Zodiac Energy acquires 98% stake in Shamli Solar Projects LLP

Zodiac Energy Limited's $213 million acquisition of a 98% stake in Shamli Solar Projects LLP represents a clear strategic pivot for the Ahmedabad-based EPC specialist towards direct asset ownership in India. This move allows Zodiac, with its 30 years of experience in solar plant design and installation, to capture value across the solar project lifecycle, extending beyond its traditional engineering, procurement, and construction services. The deal immediately expands Zodiac's solar power generation portfolio, integrating projects already in development or operation within India. Acquiring a near-total 98% interest provides Zodiac Energy with full operational control over Shamli Solar Projects LLP's assets, securing future revenue streams from solar power generation. For Zodiac Energy, this acquisition leverages its extensive 30-year track record and experience installing over 100 MW of solar capacity, directly applying that operational expertise to its newly acquired generation assets. The Ahmedabad-based company, traditionally focused on EPC, now diversifies its revenue base by holding a substantial interest in Shamli Solar Projects LLP, an Indian limited liability partnership established in 2017 specifically for solar energy project development within India. This transaction provides Shamli Solar Projects LLP with a significant exit for its development efforts, transferring control of its Indian solar projects to a seasoned operator. The transaction further demonstrates the ongoing asset aggregation within India's domestic solar energy sector, as established EPC players like Zodiac Energy seek to integrate vertically and expand their generation footprint.