Shares of Enviro Infra Engineers Ltd skyrocketed 14% on 24 June after the company announced that it had secured two important solar power contracts, marking its foray into the renewable industry. 

Enviro Infra Engineers entered the renewable energy market by winning two solar power projects with a total capacity of 69 Megawatts (Mw) (AC), according to an exchange filing on Tuesday. 

The company would buy Vento Power Infra Private from PTC India Financial Services for Rs 115.61 crore. This project includes a 40 Mw solar facility in Bolangir, Odisha, with a tariff of Rs 4.10 per unit over 18 years. It has already begun partial commercial operations.

Separately, EIEL’s fully owned subsidiary, EIE Renewables, has purchased Soltrix Energy Solution for a 29-MW solar project in Maharashtra granted by Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project, supported by Rs 92.80 crore in state financial assistance, provides a Rs 0.88 per unit tariff for 25 years.

Sanjay Jain, chairman and whole-time director, announced that the company has officially entered the renewable energy market, consistent with its long-term aim of sustainable, clean, and future-ready growth. “The Company remains focused on delivering high-quality, timely, and sustainable energy solutions while upholding the highest standards of engineering excellence and governance.”

Enviro Infra received new project orders for Rs 306.30 crore in the domestic market.  The contracts cover the engineering, procurement, and construction (EPC) of several sewage treatment facilities (STPs), as well as 15 years of operation and maintenance (O&M).

The company is in the business of designing, building, running, and maintaining Water and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs) for government agencies. 

At 11:47 am, the shares of Enviro Infra were trading 13.51% higher at Rs 239.99 on NSE.

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