Enviro Infra Engineers Limited, through its subsidiary EIE Renewables, has acquired a 49% equity stake in PRA Bihar Bess Private Limited. This strategic investment marks a move into the 37.5 MW / 150MWh Battery Energy Storage System (BESS) sector. The total project involves a capital expenditure of approximately ₹150 crore, supported by a significant 12-year Battery Energy Storage Purchase Agreement with major Bihar state power entities.
Strategic Entry into BESS Market
On April 21, 2026, EIE Renewables Private Limited, a wholly owned subsidiary of Enviro Infra Engineers Limited, entered into a Share Purchase and Options Agreement to acquire PRA Bihar Bess Private Limited. The initial phase of this acquisition includes a 49% stake in the target company, with the remaining 51% equity set to be acquired within 60 days following the project’s Commercial Operation Date.
Project Details and Financial Commitment
The target entity was established as a Special Purpose Vehicle to develop a 37.5 MW / 150MWh Battery Energy Storage System (BESS) in the state of Bihar. The project involves a total capital outlay of approximately ₹150 crore, which will be financed through a combination of internal accruals from EIE Renewables and term loans from financial institutions.
Operational Milestones and Future Outlook
The project has secured a 12-year Battery Energy Storage Purchase Agreement (BESPA) with Bihar state utilities at a tariff of ₹4,44,000 per MW per month. Additionally, the project benefits from Viability Gap Funding (VGF) of up to ₹27 lakh per MWh, which is expected to reduce upfront capital requirements and improve overall project feasibility. This acquisition aligns with the company’s long-term strategy to expand its renewable energy footprint and strengthen its geographic presence in the utility-scale storage market.
Source: BSE
