Pace Digitek Subsidiary Enters Memorandum of Understanding for Battery Energy Storage System Supply
Pace Digitek Ltd, through its subsidiary M/s Lineage Power Private Limited, has signed a Memorandum of Understanding (MOU) with M/s Bondada Renewable Energy Private Limited. The agreement focuses on the supply of Battery Energy Storage Systems (BESS) and associated components.The MOU outlines the terms for the delivery of various BESS products, including DC Blocks, C&I BESS cabinets, Residential BESS, Power Conditioning System (PCS), EMS, and battery containers.
The transaction details confirm that the agreement is with a domestic entity and does not involve any shareholding in Bondada Renewable Energy Private Limited. The MOU holds significant operational details for both parties.
Key aspects of the Memorandum of Understanding are detailed below:
| Particulars | Details |
|---|---|
| Agreement Counterparty | M/s Bondada Renewable Energy Private Limited |
| Purpose of Agreement | Supply of Battery Energy Storage Systems (BESS), including DC Blocks, C&I BESS cabinets, Residential BESS, PCS, EMS, and battery containers. |
| Transaction Type | Domestic |
| Shareholding in Counterparty | Nil |
| Relationship to Promoter Group | None |
| Related Party Status | The Memorandum of Understanding does not fall within related party transactions. |
As per the commercial terms established in the Memorandum of Understanding, payment will be managed according to the agreed-upon conditions. The partnership focuses exclusively on the supply and technical specifications defined for the advanced BESS technologies.
PACEDIGITK Stock Price Movement
Today, Pace Digitek Limited shares edged higher to close in the post-market session, achieving a 1.51% gain and settling at ₹216.20. The stock saw active trading throughout the day, moving within an intraday range between a low of ₹214.48 and a high of ₹219.40, as approximately 2.65 million shares were transacted.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.