Enviro Infra Engineers Limited, through its subsidiary EIE Renewables Private Limited, has entered into a share purchase agreement (SPA) to acquire Suyog Urja Limited for Rs 3.11 billion.
Under the agreement, EIE Renewables will acquire 51 per cent equity share capital of Suyog Urja immediately, while the remaining 49 per cent stake will be acquired in a phased manner within 27 months. The acquisition marks Enviro Infra Engineers’ entry into the wind energy segment and is expected to support the execution of wind projects across multiple states in India.