Enviro Infra to buy Suyog Urja in ₹311 crore deal, enters wind energy space

Enviro Infra Engineers Ltd has announced that its wholly owned subsidiary, EIE Renewables Private Limited, has signed a Share Purchase Agreement on April 28, 2026, to acquire 100% stake in Suyog Urja Limited in a phased transaction aimed at strengthening its renewable energy business, particularly in wind power.Under the agreement, EIE Renewables will immediately acquire 51% equity in Suyog Urja, with the remaining 49% to be acquired in phases over a period of 27 months. The total consideration for the acquisition is around ₹311 crore, to be paid in cash. The transaction is expected to be completed on or before July 31, 2028.

Suyog Urja Limited, incorporated in 2008, is a renewable energy infrastructure company engaged in wind and solar project execution across India, with presence in Maharashtra, Karnataka, Madhya Pradesh and other states. The company reported an audited turnover of ₹171.99 crore in FY25, compared with ₹86.71 crore in FY24 and ₹53.34 crore in FY23, and had a net worth of ₹30.34 crore as of March 31, 2025, stated the exchange filing.
The company has executed over 500 MW of renewable energy projects and has an outstanding order book of about ₹645 crore. Its portfolio includes completed wind projects for Tata Power Saurya Limited, Vibrant Energy and Suzlon Energy Limited, covering end-to-end infrastructure development from land acquisition to commissioning.Enviro Infra Engineers said the acquisition is not a related party transaction and that neither the promoter nor promoter group has any interest in the target entity. It added that the deal will help EIE Renewables expand into the wind energy segment, strengthen its renewable portfolio, diversify its energy mix and enhance geographic presence.

As part of the arrangement, former promoter Chetraj Narbahadur Khadka will continue to remain associated with the company for three years to provide transitional leadership and strategic oversight.

Shares of Enviro Infra Engineers Ltd ended higher on Tuesday, April 28, by 3.57% at ₹216.94 on the NSE.