Enviro Infra Engineers Limited has informed the Exchange about General Updates
EIEL · price
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On the reaction day the stock moved 10.2 pts more than Nifty Microcap 250 and 9.1 pts more than its Other Utilities peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Enviro Infra Engineers has won a competitive bid and received a Letter of Intent (LOI) from PTC India Financial Services Limited to acquire Vento Power Infra Private Limited. The underlying project is a 40 MW (AC) grid-connected solar power plant in Bolangir District, Odisha, which has already achieved Partial Commercial Operation Date (PCOD). The solar power will be sold at a tariff of ₹4.1/unit for about 18 years. The cost of acquiring the project is ₹115.61 crores. The company is currently carrying out due diligence and finalising the acquisition agreements before completing the deal.
This is a meaningful new business win that expands the company's renewable energy portfolio with a long-term revenue stream (18 years) backed by a power purchase arrangement. Shareholders should view this positively as it adds a ready, partially operational asset to the order book, though final closure is still subject to due diligence.