Acquisitions22 Apr 2026, 03:53 pm
Enviro Infra Engineers Acquires 49% Stake in PRA Bihar Bess
AI Summary
Enviro Infra Engineers Ltd, through its subsidiary EIE Renewables Private Limited, has acquired a 49% equity stake in PRA Bihar Bess Private Limited. The acquisition was formalized through a Share Purchase and Options Agreement on April 21, 2026. The remaining 51% equity stake will be acquired within 60 days from the Commercial Operation Date (COD) of the project awarded to PRA Bihar Bess. This acquisition will enable EIE Renewables to strengthen its Battery Energy Storage Systems (BESS) portfolio and expand its presence in the renewable energy sector. The cost of acquisition is ₹15,51,00,000/-.
Key Highlights
- EIE Renewables acquired 49% equity in PRA Bihar Bess on April 21, 2026.
- Remaining 51% stake to be acquired post-commercial operation date.
- Acquisition cost is ₹15,51,00,000/-.
- PRA Bihar Bess is developing a 37.5 MW / 150MWh Battery Energy Storage System in Bihar.
- The project has a signed BESPA with Bihar discoms at ₹ 4,44,000/MW/month for 12 years.