Enviro Infra acquires Bihar BESS SPV with phased stake buy

Enviro Infra Engineers Limited (EIEL) has announced that its wholly owned subsidiary, EIE Renewables Private Limited, has entered into a Share Purchase and Options Agreement to acquire PRA Bihar Bess Private Limited, a special purpose vehicle (SPV) developing a battery energy storage system (BESS) project in Bihar.

Under the agreement dated April 21, 2026, EIE Renewables has acquired an initial 49% equity stake. The remaining 51% is to be acquired within 60 days after the Commercial Operation Date (COD) of the project.

The target company was incorporated in August 2025 to develop a 37.5 MW / 150 MWh BESS project across multiple districts in Bihar. The project will be implemented on a build-own-operate-transfer (BOOT) basis with viability gap funding (VGF) support.

The project is backed by a 12-year Battery Energy Storage Purchase Agreement (BESPA) with Bihar State Power Holding Company Limited (BSPHCL), North Bihar Power Distribution Company Ltd (NBPDCL), and South Bihar Power Distribution Company Ltd (SBPDCL), at a tariff of Rs 4,44,000 per MW per month. It also receives VGF support of up to Rs 27 lakh per MWh, aimed at reducing upfront capital costs and improving project viability.

Following the transaction, PRA Bihar Bess Private Limited has become a step-down wholly owned subsidiary of EIEL due to control rights under the agreement.

The acquisition aligns with EIEL’s entry into the energy storage segment. In March 2026, the company secured five projects worth Rs 1,481 crore, with a significant share linked to its first BESS contracts. Orders from NTPC Limited accounted for Rs 1,070 crore, covering engineering, procurement, and construction (EPC) of 930 MWh of battery storage capacity across multiple locations. These awards expanded the company’s presence into Bihar, Assam, and Telangana.  

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