Premier Energies Limited announced key outcomes from its Board meeting on February 9, 2026. The Board approved establishing a 51% joint venture, HeliosAnthos Energies Private Limited, with BA Prerna Renewables Private Limited for EPC contracts in renewable energy. Additionally, the Board extended the Long Stop Date for the acquisition of 51% equity in Ksolare Energy Private Limited and the balance tranche acquisition in Transcon Ind Limited, both set now for April 15, 2026.
Outcome of Board Meeting: February 9, 2026
The Board of Directors of Premier Energies Limited convened on February 9, 2026, to approve significant strategic initiatives related to expansion and ongoing acquisitions. The meeting commenced at 04:00 P.M. and concluded at 04:28 P.M.
Formation of New Joint Venture: HeliosAnthos Energies
The Board formally approved the investment in HeliosAnthos Energies Private Limited to establish a joint venture (JV) with BA Prerna Renewables Private Limited. The objective of this newly incorporated JV is to undertake Engineering, Procurement, and Construction (EPC) contracts across the renewable energy spectrum, including solar, wind, BESS, and hybrid projects.
JV Equity Structure and Control
- Premier Energies Limited will hold a 51% equity stake, securing management control of the JV.
- BA Prerna Renewables Private Limited will hold the remaining 49% stake.
- Premier Energies’ capital contribution is Rs. 10,45,500/- for 1,04,550 equity shares, representing 51% of the initial paid-up capital of INR 10,00,000/-.
- The transaction is deemed to be at an “arm’s length” basis and is not classified as a related party transaction.
Extension of Acquisition Long Stop Dates
The Board also approved further extensions for the completion of two pending acquisition agreements, citing the pending fulfillment of conditions precedent:
1. Ksolare Energy Private Limited
The Long Stop Date for the proposed acquisition of 51% equity stake in Ksolare Energy Private Limited has been extended until April 15, 2026.
2. Transcon Ind Limited
The acquisition of the balance tranche of Equity Shares in Transcon Ind Limited has been deferred until April 15, 2026, pending the fulfillment of conditions set out in the amended Share Purchase Agreement (SSSHA).
JV Governance Details
The governance structure for the Joint Venture Company (HeliosAnthos) will consist of five (5) Board members. Premier will appoint two (2) members, and BA Prerna will appoint one (1) member. The board will also include two (2) independent directors, one of whom will serve as the Chairperson.
Source: BSE
