Enviro Infra Engineers has announced a strategic acquisition through its wholly owned subsidiary EIE Renewables Private Limited, which has acquired 49% equity in PRA Bihar BESS Private Limited for ₹15.51 crore. The transaction was completed on 21 April 2026, with the company receiving intimation on 22 April 2026 at 10:54 A.M.

Acquisition Structure

The acquisition follows a Share Purchase and Options Agreement signed on 21 April 2026. EIE Renewables has acquired 49% of the equity shares in PRA Bihar BESS Private Limited, with the remaining 51% equity stake to be acquired within 60 days from the Commercial Operation Date (COD) of the project awarded to the target company. The target company has become a wholly owned subsidiary of EIE Renewables and a step-down wholly owned subsidiary of the company.

Project Details

PRA Bihar BESS Private Limited was incorporated on 21 August 2025 as a Special Purpose Vehicle for the development and establishment of a 37.5 MW/150MWh Battery Energy Storage System project in multiple districts of Bihar. The project will operate under Build-Own-Operate & Transfer (BOOT) mode with Viability Gap Funding support.

The Battery Energy Storage Purchase Agreement (BESPA) has been signed with Bihar State Power (Holding) Company Limited, North Bihar Power Distribution Company Ltd, and South Bihar Power Distribution Company Ltd at a tariff of ₹4,44,000/MW/month for 12 years. The project is supported by Viability Gap Funding of up to ₹27 lakh per MWh.

Financial Overview

The target company has an authorised capital of ₹10,00,000 and paid-up capital of ₹1,00,000. Since the company is newly incorporated, its turnover is currently nil. A capital expenditure of approximately ₹150 crore is proposed for the project, which will be funded by EIE Renewables from internal sources along with term loans from banks and financial institutions.

Strategic Significance

This acquisition enables EIE Renewables to strengthen and scale its existing Battery Energy Storage Systems portfolio while reinforcing its position in the renewable energy sector through enhanced project capacity and expanded geographic presence in Bihar. The acquisition is not a related party transaction, and none of the company's promoter, promoter group, or group companies have any interest in the transaction.

Enviro Infra Engineers Limited has significantly strengthened its order book with ₹2,240 crore in new projects secured since March 2026, pushing the total order book past ₹4,600 crore and providing strong revenue visibility for the next 15-24 months. The company's diversified project wins span water treatment, wastewater management, and renewable energy segments, marking strategic expansion into Battery Energy Storage Systems (BESS).

Order Book Expansion and Revenue Outlook

The company's robust order book growth demonstrates strong business momentum across multiple segments. The expansion takes the total order book value beyond ₹4,600 crore, establishing clear revenue visibility of approximately ₹2,000 crore for FY27.

Strategic BESS Entry and Renewable Expansion

Enviro Infra Engineers has marked its entry into the Battery Energy Storage System segment through four projects awarded by NTPC worth ₹1,070 crore. These projects represent a total capacity of 930 MWh and are being implemented across Uttar Pradesh, Assam, Karnataka, and Telangana, demonstrating strategic diversification into the renewable energy value chain.

Water Infrastructure Project Wins

In the core water treatment segment, the company has secured significant contracts including one project from Bihar Urban Infrastructure Development Corporation Limited under AMRUT 2.0 worth ₹411 crore in Aurangabad, Bihar. Additionally, two major projects worth approximately ₹972 crore have been secured under the Swachh Bharat Mission (Urban) 2.0 in Pune and Nashik, Maharashtra.

Management Commentary and Strategic Outlook

Chairman Sanjay Jain emphasized the significance of these developments, stating that the steady inflow of orders across core and emerging business segments reflects the company's execution capabilities and strategic focus on high-growth infrastructure areas. The entry into the BESS segment marks an important milestone in portfolio diversification, while the strong presence in water and wastewater continues to drive stable growth.

The company continues to benefit from sectoral tailwinds, including increased government spending on water infrastructure and growing investments in renewable energy and storage solutions. The demand outlook from various government schemes like AMRUT 2.0, Namami Gange, and Swachh Bharat Mission remains strong, positioning the company for sustained growth over the medium term.