Pace Digitek Secures Rs 494 Crore LoA from NTPC 

Pace Digitek Ltd on 31 March announced that they have obtained a letter of acceptance (LoA) for Rs 494.54 crore, excluding taxes, from NTPC Ltd. for a battery energy storage project.

The order includes engineering, procurement, and construction (EPC) work for a battery energy storage system (BESS) at NTPC’s Nabinagar Super Thermal Power Station, as well as comprehensive maintenance during the system’s design life, the firm stated in an exchange filing.

The contract also includes the supply, transportation, installation, testing, and commissioning of equipment, as well as civil and structural work for the project.

Pace Digitek stated that the supply and services portion of the contract will be completed within 15 months, while the maintenance component will be valid for 11 years.

The business stated that the order is not a related-party transaction, and its promoters have no stake in NTPC.

Last month, the company’s material subsidiary, Lineage Power Private Ltd, received two orders. On 23 February, Reliance Industries Ltd placed a purchase order of Rs 1,587.10 million (including GST) for lithium-ion battery packs.

Lineage Power Private Ltd. also received a $1.35 million purchase order from Saudi Arabia’s Yaqin Chem to supply four mobile battery energy storage systems (BESS) placed on gooseneck trailers.

Pace Digitek’s shares finished at Rs 142.10, up 6.46% from the previous day. Over the last six months, the stock has dropped by roughly 35%.

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