Pace Digitek subsidiary signs BESS supply MoU with Bondada Renewable
Pace Digitek Limited has announced that its material subsidiary, Lineage Power Private Limited, has signed a Memorandum of Understanding (MoU) with Bondada Renewable Energy Private Limited for the supply of Battery Energy Storage Systems (BESS) and related equipment, according to a regulatory filing.
Under the MoU, Lineage Power will supply a range of energy storage products, including DC Blocks, Commercial & Industrial (C&I) BESS cabinets, residential BESS, Power Conversion Systems (PCS), Energy Management Systems (EMS) and battery containers.
The agreement has been executed with a domestic entity. Pace Digitek stated that neither the company nor its subsidiary has any shareholding relationship with Bondada Renewable Energy.
The company further clarified that the transaction does not qualify as a related party transaction and that Bondada Renewable Energy has no relationship with the promoter, promoter group or group companies of Pace Digitek.
The consideration for the proposed supplies will be determined in accordance with the commercial terms agreed under the MoU.
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