Pace Digitek Subsidiary Lineage Power Secures Battery Storage Systems Order, Strengthens Energy Storage Portfolio
· Free Press Journal
Mumbai: Lineage Power Private Limited, a material subsidiary of Pace Digitek Limited, announced on Thursday that it has entered into a Memorandum of Understanding (MOU) with Bondada Renewable Energy Private Limited for the supply of Battery Energy Storage Systems (BESS).
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Scope of Supply
The agreement covers the supply of various BESS components. These include DC Blocks, Commercial & Industrial (C&I) BESS cabinets, residential BESS units, Power Conversion Systems (PCS), Energy Management Systems (EMS), and battery containers.
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Bondada Renewable Energy Private Limited is a domestic entity. Pace Digitek does not hold any shareholding in Bondada Renewable Energy Private Limited.
Transaction Terms
The company stated that the consideration for the supply would be as per the commercial terms outlined in the MOU. This transaction does not fall under related party transactions, and there is no relationship with the promoter or promoter group.
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The MOU marks a step for Lineage Power in expanding its presence in the battery energy storage market. This collaboration will support the growing demand for renewable energy infrastructure in India.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.