Pace Digitek signs PPA with BESCOM for 250 MW Solar and 1,100 MWh BESS Project

Primary Transaction Overview

TRANSGREENX, the asset-holding arm of Pace Group, has executed a Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Limited (BESCOM) for a 250 MW solar PV project integrated with a 250 MW / 1,100 MWh Battery Energy Storage System (BESS). The project is located at Pavagada Solar Park in the Tumkuru District of Karnataka. The contract was awarded by Karnataka Renewable Energy Development Limited (KREDL) through a tariff-based competitive bidding process (Tranche I).

Project Specifications & Financials

The project involves the following financial and technical benchmarks:

• Estimated Project Cost: Rs. 17,750 million (INR 1,775 crore), inclusive of GST.
• Total Executable Order Book: Rs. 11,338 crore (as of May 25, 2026).

Project Technical Parameters

Asset Structure and Execution Roles The project execution is distributed across Pace Group entities:

• Pace Digitek Limited: Engineering, Procurement, and Construction (EPC) execution.
• Lineage Power Private Limited: In-house manufacturing of BESS and related components.
• TRANSGREENX: Asset ownership and management of long-term infrastructure assets under the Build-Own-Operate (BOO) platform.

Manufacturing & Supply Chain Details

The project utilizes localized manufacturing infrastructure situated in the Bidadi Industrial Area, Bengaluru.

• Facility Details: The manufacturing plant has an annual capacity of 5 GWh and utilizes a fully automated cell-to-pack assembly line.
• Production Milestones: As of March 31, 2026, the facility delivered 178 containerized BESS units. Approximately 2.5 GWh of manufacturing capacity was operationalized as of October 2025.
• Localization & Technical Integration:
  • Adherence to a minimum of 20% local content requirement.
  • Utilization of indigenously developed Energy Management System (EMS) software.
  • In-house execution of container fabrication and cell-to-pack assembly processes.

Regulatory & Agreements Framework

The project is governed by the regulatory standards of the Karnataka Electricity Regulatory Commission (KERC) and national listing obligations.

• Tariff Structure: KERC has adopted an interim tariff of Rs. 5.51 per unit. The project includes Viability Gap Funding (VGF) support.
• Grid Dispatch Strategy: The BESS component is functionally required to store a minimum of 80% of the plant’s annual solar generation. Stored energy will be discharged during morning and evening peak demand windows to support grid stability and frequency regulation.
• Regulatory Compliance: The PPA was signed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the receipt of the Letter of Award (LoA) from KREDL.