Pace Digitek Secures ₹375 Crore Solar EPC Order, Fuels Renewable Expansion
Overview
Pace Digitek Limited announced a significant ₹375.7 crore solar EPC order win from Bondada Engineering Limited. The project involves executing Balance of System works for a 300 MW AC solar power project, encompassing engineering, procurement, and installation. This substantial deal reinforces Pace Digitek's strategic focus on expanding its footprint in India's burgeoning renewable energy sector.
Stocks Mentioned
Pace Digitek Secures Major Solar EPC Contract
Pace Digitek Limited announced on Wednesday it has secured a substantial domestic solar EPC order valued at ₹375.7 crore from Bondada Engineering Limited. This marks a significant step in the company's expansion within the renewable energy sector.
Project Scope and Timeline
The order mandates Pace Digitek to execute Balance of System (BOS) works for a 300 MW AC solar power project. This comprehensive agreement includes end-to-end engineering and design, procurement, and full EPC services. The scope covers manufacturing, supply, erection, installation, testing, and commissioning, along with three years of post-commissioning operations and maintenance support. The project is slated for completion within 15 months from the issuance of the Letter of Award.
Strategic Implications
Company management stated that the order highlights Pace Digitek's growing capabilities in managing large-scale solar infrastructure projects. It further solidifies the company's strategic direction to enhance its presence in India's renewable energy market. The announcement comes as shares of Pace Digitek Ltd closed 1.33% lower at ₹174.99 on the NSE prior to the news release.
