Lineage Power Subsidiary Signs MOU with Solar Companies for BESS Supply
Pace Digitek Limited has a material subsidiary, M/s. Lineage Power Private Limited, which has entered into a Memorandum of Understanding (MOU) with Onward Solar Power Private Limited (OSPPL) and Kalpa Power Private Limited (KPPL). The agreement focuses on the supply of Battery Energy Storage Systems (BESS).The MOU outlines the supply of various BESS components, including DC Blocks, C&I BESS cabinets, Residential BESS units, PCS, EMS, and battery containers. This strategic partnership involves two domestic entities.
Details regarding the terms and conditions of the agreement are summarized below:
| Particulars | Details |
|---|---|
| Counterparties | M/s. Onward Solar Power Private Limited (OSPPL) and M/s. Kalpa Power Private Limited (KPPL). |
| Purpose of Agreement | Supply of Battery Energy Storage Systems (BESS), including DC Blocks, C&I BESS cabinets, Residential BESS, PCS, EMS, and battery containers. |
| Shareholding in Counterparties | Nil. |
| Entity Type | Both entities are domestic. |
| Relationship Status | The subsidiary has no relationship with the promoter or the promoter group companies. |
| Transaction Classification | The Memorandum of Understanding does not fall under related party transactions. |
The consideration for this supply is defined as per the commercial terms established in the Memorandum of Understanding.
PACEDIGITK Stock Price Movement
Today, Pace Digitek Limited shares edged higher in post-market trading, settling at ₹212.36 after gaining 3.31%. The stock traded within a narrow range, reaching a high of ₹218.8 and maintaining strong activity with over 3.1 million shares traded today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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