EIE Renewables Acquires Stake in PRA Bihar Bess for BESS Project Development
Enviro Infra Engineers Limited's renewable energy arm, EIE Renewables Private Limited, has entered an acquisition agreement to strengthen its presence in the energy sector. EIE Renewables entered into a Share Purchase and Options Agreement on April 21, 2026, for the acquisition of PRA Bihar Bess Private Limited.Under the agreement, EIE Renewables has secured a 49% equity stake in the Target Company. The remaining 51% equity interest is set to be acquired within 60 days from the Commercial Operation Date (COD) of the project awarded to PRA Bihar Bess Private Limited.
The acquisition is strategically positioned in the Energy/Power infrastructure sector. PRA Bihar Bess Private Limited, incorporated on August 21, 2025, operates as a Special Purpose Vehicle (SPV). The entity is focused on the development and establishment of a 37.5 MW / 150 MWh Battery Energy Storage System (BESS) in multiple districts across the state of Bihar.
This acquisition will enable EIE Renewables to scale its existing BESS portfolio and expand its geographical footprint within the renewable energy market.
Transaction and Project Details
The total cash consideration for the acquisition was ₹ 15,51,00,000/-. The project, which is slated for completion on or before May 31, 2027, utilizes Build-Own-Operate & Transfer (BOOT) mode and is supported by Viability Gap Funding (VGF) up to ₹ 27 lakh per MWh.Key details regarding the acquisition and the Target Company are summarized below:
| Detail | Description | Value |
|---|---|---|
| Target Company | PRA Bihar Bess Private Limited (SPV) | Incorporated August 21, 2025 |
| Industry | Energy / Power infrastructure | N/A |
| Project Capacity | BESS | 37.5 MW / 150 MWh |
| Initial Stake Acquired | EIE Renewables Private Limited | 49% equity share |
| Remaining Stake Acquired | EIE Renewables Private Limited | 51% equity stake |
| Consideration | Cash Consideration | ₹ 15,51,00,000/- |
| Project Funding | Internal Sources (EIE Renewables) + Term Loan (FIs) | Approx. ₹ 150 Crore |
| Agreement Details | BESPA signed with BSPHCL, NBPDCL, & SBPDCL | Tariff of ₹ 4,44,000/MW/month for 12 years |
EIE Renewables Private Limited has become the Wholly Owned Subsidiary and Step Down Wholly Owned Subsidiary of Enviro Infra Engineers Limited through the control acquired under the Share Purchase and Options Agreement dated April 21, 2026. The Target Company's current turnover is reported as Nil.
EIEL Stock Price Movement
Enviro Infra Engineers Limited shares today edged higher to close at ₹212.19, gaining 1.92% for the day. The equity traded within a range of ₹206.42 to ₹213.83, concluding on a high volume of over 2.04 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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