Enviro Infra Engineers Ltd secures two key solar power projects aggregating to 69 MW

Enviro Infra Engineers Limited (NSE: EIEL, BSE: 544290) a prominent EPC Player in Water & Waste-Water Treatment across PAN India, has taken a significant step towards its renewable energy ambitions by securing two key solar power projects aggregating to 69 MW (AC) capacity, marking its strategic foray into the renewables sector, as per the following details:

(i) Awarding of acquisition of Vento Power Infra Private Limited for 40 MW Solar Power Project in Odisha: Under a competitive auction process, the Company has been awarded the bid and consequently received the Letter of Intent (LOI) for acquisition of Vento Power Infra Private Limited from PTC India Financial Services Limited. The project involves the development of a 40 MW (AC) grid-connected solar power plant in the Bolangir District of Odisha, wherein the solar power generation shall be sold at a tariff of ₹4.10 per unit for a period of approx. 18 years. The acquisition cost for this project is ₹115.61 crores. Further, the project has already achieved Partial Commercial Operation Date (PCOD).

(ii) Acquisition of Soltrix Energy Solution Private Limited for 29 MW Solar Power Project in Maharashtra: The Company, through its Wholly Owned Subsidiary EIE Renewables Private Limited, has acquired Soltrix Energy Solution Private Limited, which has been awarded a 29 MW (AC) solar power project by the Government of Maharashtra through the Maharashtra State Electricity Distribution Company Limited. This project involves comprehensive execution, including design, financing, engineering, procurement, construction, operation, and maintenance. The project is supported by State Financial Assistance (SFA) of ₹3.20 crores per MW, resulting in Aggregate SFA of ₹ 92.80 crores, with a tariff-based revenue of ₹ 0.88 per unit over a period of 25 years.

Mr. Sanjay Jain, Chairman & Whole Time Director said: "With these Projects, the Company has officially entered the renewable energy sector, aligning with its long-term vision for sustainable, clean, and future-ready growth. The Company remains focused on delivering highquality, timely, and sustainable energy solutions while upholding the highest standards of engineering excellence and governance."

Shares of Enviro Infra Engineers Limited was last trading in BSE at Rs. 211.45 as compared to the previous close of Rs. 215.30. The total number of shares traded during the day was 120117 in over 2109 trades.

The stock hit an intraday high of Rs. 214.15 and intraday low of 209.70. The net turnover during the day was Rs. 25440443.00.

Source : Equity Bulls

Keywords

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