Pace Digitek Arm Lineage Power Signs MoU With Bondada for BESS Supply

17 Jul 2026 CW Team

Company disclosures indicated that Pace Digitek does not hold any shareholding in Bondada and that the transaction is not a related party transaction, with no relationship between the entity and the promoter, promoter group or group companies and no shares to be issued as part of the transaction. The firm framed the deal as part of a broader push into energy storage as demand grows alongside renewable deployment.

Pace Digitek has projected that the BESS business will account for 55 per cent of its financial year 2026-27 revenue, and the chairman and managing director, Venugopal Rao Maddisetty, described the segment as the principal growth driver. The company plans to double its battery energy storage manufacturing capacity from five GWh to 10 GWh within three months, with the expansion expected to be commissioned by September-end or mid-October. Construction for the new production line has been completed, equipment has been ordered and is expected to arrive by August, and commissioning is scheduled by mid-October.

The company has guided for 2026-27 revenue of Rs32-34 bn, reflecting confidence in the market opportunity. Maddisetty noted that battery energy storage helps store electricity generated during peak production hours for later use, and pointed to growing policy support including Maharashtra's plan to develop 0.1 mn megawatt-hour (MWh) of battery storage as an indicator of rising demand. Shares of Pace Digitek Ltd ended at Rs215.80, down by Rs3.50, or 1.65 per cent, on the BSE.

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Battery Energy Storage Systems (BESS) will form the core of a new agreement in which Lineage Power, a material subsidiary of Pace Digitek Ltd, has signed a memorandum of understanding with Bondada Renewable Energy Private Ltd for the supply of BESS solutions. The arrangement covers direct current blocks, commercial and industrial BESS cabinets, residential BESS, power conversion systems (PCS), energy management systems (EMS) and battery containers, and the MoU has been executed with a domestic entity with consideration to be determined by commercial terms. Company disclosures indicated that Pace Digitek does not hold any shareholding in Bondada and that the transaction is not a related party transaction, with no relationship between the entity and the promoter, promoter group or group companies and no shares to be issued as part of the transaction. The firm framed the deal as part of a broader push into energy storage as demand grows alongside renewable deployment. Pace Digitek has projected that the BESS business will account for 55 per cent of its financial year 2026-27 revenue, and the chairman and managing director, Venugopal Rao Maddisetty, described the segment as the principal growth driver. The company plans to double its battery energy storage manufacturing capacity from five GWh to 10 GWh within three months, with the expansion expected to be commissioned by September-end or mid-October. Construction for the new production line has been completed, equipment has been ordered and is expected to arrive by August, and commissioning is scheduled by mid-October. The company has guided for 2026-27 revenue of Rs32-34 bn, reflecting confidence in the market opportunity. Maddisetty noted that battery energy storage helps store electricity generated during peak production hours for later use, and pointed to growing policy support including Maharashtra's plan to develop 0.1 mn megawatt-hour (MWh) of battery storage as an indicator of rising demand. Shares of Pace Digitek Ltd ended at Rs215.80, down by Rs3.50, or 1.65 per cent, on the BSE.

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