Premier Energies Limited announced the outcome of its Board Meeting held on February 9, 2026. Key approvals include the formation of a joint venture, HeliosAnthos Energies Private Limited, with BA Prerna Renewables, where Premier will hold a 51% controlling stake for EPC activities. Additionally, the board approved extending the Long Stop Date for the acquisition of Ksolare Energy Private Limited and the balance tranche in Transcon Ind Limited until April 15, 2026.
Board Approves New Renewable Energy Joint Venture
The Board of Directors of Premier Energies Limited approved the formation of a new joint venture, HeliosAnthos Energies Private Limited. This JV is established to undertake Engineering, Procurement, and Construction (EPC) contracts for renewable energy projects, including solar, wind, BESS, and hybrid projects.
The equity structure is defined as:
- Premier Energies Limited: Shall hold 51% equity stake along with management control.
- BA Prerna Renewables Private Limited: Shall hold the remaining 49% equity stake.
The initial paid-up capital of the Joint Venture Company is set at INR 10,00,000/-, with Premier Energies subscribing 51% (1,04,550 equity shares worth Rs. 10,45,500/-).
Extension of Acquisition Long Stop Dates
The Board also sanctioned crucial extensions regarding two previously disclosed acquisition plans due to pending fulfilment of conditions precedent:
1. Ksolare Energy Private Limited Acquisition
The Long Stop Date for fulfilling the conditions precedent related to the proposed acquisition of a 51% equity stake in Ksolare Energy Private Limited has been extended until April 15, 2026.
2. Transcon Ind Limited Equity Acquisition
The acquisition of the balance tranche of Equity Shares in Transcon Ind Limited has also been deferred until April 15, 2026, pending the fulfilment of conditions set out in the amended Share Purchase Agreement (SSSHA).
Meeting Summary
The Board Meeting commenced at 04:00 P.M. and concluded shortly thereafter at 04:28 P.M. on February 09, 2026.
Source: BSE
