Enviro Infra Engineers (NSE:EIEL, BOM:544290) said its arm EIE Renewables has acquired a 49% stake in PRA Bihar BESS for 155.1 million rupees under a share purchase and options agreement, according to a Wednesday filing on Indian bourses.
The target company will develop a 37.5 MW / 150 MWh battery energy storage system project in Bihar under Build-OwnOperate & Transfer (BOOT) mode, with completion expected by May 31, 2027, the filing said.
The remaining 51% stake will be acquired within 60 days from the commercial operation date of the project, the filing said.
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