Pace Digitek shares climb on ₹488-crore energy storage order

Pace Digitek Limited saw its share price gain 13 percent following announcement of a significant order win by its material subsidiary, Lineage Power Private Limited (LPPL). The subsidiary has secured a contract valued at ₹488.46 crore from NTPC GE Power Services Private Limited for battery energy storage system (BESS) supply.

The order represents a substantial recognition of LPPL's capabilities in the energy storage sector, a segment witnessing rapid expansion across India's power infrastructure landscape. BESS technology has become critical to grid stability and renewable energy integration as the country accelerates its transition towards cleaner power generation.

Lineage Power, which operates as a material subsidiary of Pace Digitek, specializes in power conversion and energy storage solutions. The contract with NTPC GE Power Services, a joint venture between India's state-owned National Thermal Power Corporation and General Electric, underscores the growing role of such partnerships in advancing India's energy security objectives.

The order win comes as India continues to invest heavily in grid-scale battery storage infrastructure to support its ambitious renewable energy targets. Analysts view such contracts as indicators of robust demand for domestic energy storage manufacturers as the country builds out the necessary infrastructure to handle increasing renewable capacity on its power grids.