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Infrastructure solutions company Pace Digitek Ltd. announced on Monday, March 30, that it has received a letter of acceptance worth ₹494.54 crore, excluding taxes, from NTPC Ltd. for a battery energy storage project.
The order covers engineering, procurement and construction (EPC) work for a battery energy storage system (BESS) at NTPC’s Nabinagar Super Thermal Power Station, along with comprehensive maintenance over the system’s design life, the company said in an exchange filing.
The contract also
includes supply, transportation, installation, testing and commissioning of equipment, as well as civil and structural works related to the project.
Pace Digitek said the supply and services portion of the contract will be executed within 15 months, while the maintenance component will run for 11 years.
The company said the order is not a related-party transaction and that its promoters have no interest in NTPC.
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Last month, the company's material subsidiary, Lineage Power Private Ltd, secured two orders. This includes a purchase order worth ₹1,587.10 million (including GST) from Reliance Industries Ltd on February 23 for the supply of lithium-ion battery packs.
Lineage Power Private Ltd. also got a purchase order worth $1.35 million from Saudi Arabia-based Yaqin Chem tosupply four mobile battery energy storage systems (BESS) mounted on gooseneck trailers.
Shares of Pace Digitek closed 6.46% at ₹142.10 ahead of the order win on Monday. The stock has declined nearly 35% over the last six months.
